Starting in July Atari will begin selling off assets individually after unsuccessfully trying to sell its full catalog. Atari is reportedly seeking 22.2 million in an attempt to mitigate losses.

Back on January 21, the company filed for chapter 11 relief in bankruptcy court in a direct action to separate itself from its French parent company Atari S.A. Polygon reported that the filing was due to French parent company, Atari S.A., being in debt; however, while the company attracted over 180 potential buyers, only 15 of those submitted preliminary bids for its catalog. As a result, Atari deemed none of the initial offers acceptable.

Breaking up its assets into blocks that would be auctioned off beginning in July offers the best course of action for the failed gaming company, Atari told the bankruptcy court.



"The Debtors believe that this type of a targeted bidding process affords the Debtors the best opportunity to market the Assets and maximize the value thereof for the benefit of all stakeholders," Atari said in court papers obtained by the Wall Street Journal.

Atari is seeking for various video game franchises, the Journal cited, $3.5 million for Roller Coaster Tycoon; $1.5 million for Test Drive; $500,000 apiece for Humongous, Fatty Bear's Birthday Surprise, and Math Gran Prix; and $250,000 for Total Annihilation.

Is this game-over for Atari, or will they emerge on the other side as viable?