Atari hit by dwindling revenue, files for bankruptcy

The economic strain appears to be taking its toll on Atari. According to the L.A Times, the creators of Pong have filed a petition for bankruptcy.

As reported by Polygon, Atari North America has filed the petition in order to cut itself loose from its French parent company, which is riddled with debt.

Revenue and share prices have continued to drop across the last two years; with the latter now worth less than a Euro.

By filing for bankruptcy, Atari US hopes to escape the chains of its parent company and form a brand new organisation. Right now, the firm is fully reliant on a London-based credit group to sort out the trouble.

Atari is currently working on a Pong recreation for Zynga, plus mobile adaptations of Centipede: Origins and Outlaw, Dungeons and Dragons, and Rollercoaster Tycoon.