Atari Files for Bankruptcy in the US

Seminal video game company Atari has filed for bankruptcy in the US in an effort "to break free from their debt-laden French parent," according to the L.A. Times.

Atari's revenue has declined in recent decades. Since the early 2000s, the company has been under the rule of a French parent, known as Atari S.A.

In recent times, the US operation has focussed increasingly on mobile and digital platforms, and there's some evidence that this strategy is working. Profits remain small, however, with the division taking $11 million and $4 million, respectively, for the last two fiscal years. Interestingly, 17% of the company's revenue now comes from the licensing of the Atari name and logo for various pieces of 'retro' merchandise.

Atari is, of course, most famous for creating arcade classics such as Pong and Asteroids. It is currently working on a new version of Pong with Zynga and a 'greatest hits' collection from its back catalogue.

If you want to know more about the legacy of Atari and arguably its most famous creation, check out our Pong Infographic.

Daniel is IGN's UK Staff Writer. You can be part of the world's worst cult by following him on IGN and Twitter.