Midway Games files for bankruptcy protection

[The Xyco]

http://www.businessweek.com/ap/financialnews/D96A7RS80.htm

Well lookee there.

In this case it is not a liquidation, but nonetheless a bit telling of the times.

[KyleJCrb]

Today is a pretty rough day for the game industry: NCSoft Brighton just had a big layoff (the second round in less than a year for them), and now Midway filing for bankruptcy. Kinda sucks.

[Bahamut]

Not terribly surprising, after hearing about them having to come up with a big amount in order to even stay alive.

[Flare4War]

We haven't seen much production from them lately. Yeah, not terribly surprising.

[The Coop]

I was about to go and update my old thread with this. Guess Midway is finally getting close to the drain in their financial whirlpool.

[Wintermute]

MK vs. DC Universe?

Come on, they've been producing. And they're working on new titles right now too. I find this news rather distressing as I have a friend who works for Midway.

[Avolii]

And there went my hopes for ever seeing another 2049 game. Well, sort of. I hope they can pull through. Seeing all these companies shrink and disappear is getting really disheartening.

[Dyne]

They're only filing chapter 11 so they can reorganize. They're not dead yet. But after this, if they don't get themselves together, it'll be curtains for good.

[Toadofsky]

Shame to see them go, but with this economic struggle, I can't see how many companies are really going to survive that well.

Is this another form of the game crash of the 80's?