Games Publisher Midway USA files for insolvency
Via press release Midway announced that the US subsidiary filed for insolvency.
Midway USA has filed for creditor protection according to chapter 11 in order to reorganize the company. The insolvency proceedings are intended to restore Midway's liquidity.
According to media reports the process was accelerated by Summer Redstone selling Midway to the mysterious investor Mark Thompson and "protection according to Chapter 11” would be the best option.
The European subsidiaries, like the German Midway Games GmbH, are not affected by the insolvency.
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