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Midway Files for Bankruptcy
This is no surprise, seeing as the company was looking at $150 million in debt last December with just 50 days to pay it , but today Midway Games filed for Chapter 11 Bankruptcy .
Chairman, President and CEO Matt Booty called the filing ?a
difficult but necessary decision, adding that it buys the company time
to figure out how to proceed from here. For now, business continues as
usual, and Midway has filed several First Day Motions in hopes of
keeping it that way as restructuring takes place. READ MORE HERE
Source:Digital Media Online.
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