News
Midway Files for Chapter 11 Bankruptcy
Wait, They Hadn't Done That Yet?
by Sarah

Mortal Kombat publisher Midway have had their share of financial difficulties lately, so it should come as no surprise to anyone that they have filed for Chapter 11 bankruptcy. Actually, I was a bit startled, but only because I thought they would have done that months ago. At any rate, CEO Matt Booty (hee, his name is Booty!) called the move "a difficult but necessary decision,” as well as the "next logical step in an ongoing process to address our capital structure.” Now, I’m no financial genius, but Booty (hee) seems quite calm about the monetary state of Midway at the moment, which I probably wouldn’t be if I’d just filed for bankruptcy.
This doesn’t mean that things are over for Midway, and things are still business as usual over at the publisher. Now that some of the pressure from creditors is off, maybe they’ll be able to concentrate on making games—and more importantly for them, making a profit. Time will tell, but even though Midway are not out of the woods yet, it seems as though they’re hanging in there. In other words, it’s not time to say “FINISH THEM” yet! Ugh, that was awful. I sincerely apologize.
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Comments
Huh... I also thought this had happened. It's a sad state of affairs when Chapter 11 restructuring is considered good news.