Mention the word “Atari” to anyone born before the mid-1980s and a happy rush of Pong memories will likely blip through the mind. But even though the heyday of video game company Atari is so far from over some might not even realize it’s still hanging around, not only is it alive in 2013, but it’s filing bankruptcy in the U.S. to maintain its existence.

Atari has come a long way since Pong, its home video game consoles and the era when it reigned supreme at the arcade. Nowadays its focus is on mobile offerings for iOS and Android phones, which the company said is doing gangbusters business.

But there’s trouble stirring for the parent company of Atari Interactive (along with Humongous and California U.S. Holdings) Atari S.A. which is based in France and is undergoing “structural financial encumbrances.” In other words, it’s time to cut the cord.

The three companies are likely going to sell all their assets or change things up so they can be separate from Atari S.S., and have filed for Chapter 11 bankruptcy protection during this time.

There are only 40 Atari employees in the U.S., notes PCWorld, including its CEO Jim Wilson who took charge in 2010. Since then, the company says its digital game business has made it a “growth engine” for the French parent, which was formerly unprofitable.

Anyone with a bunch of cash and a basement full of Atari games ready to step up and take the reins? If you do, please bring back Pong. It’s just so satisfying.

Atari Files For Chapter 11 To Separate From French Parent [PR NewsWire]
Atari files for bankruptcy, but it’s not ‘game over’ [PCWorld]

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