Atari Files for Bankruptcy

Expects to sell off assets

Atari has filed for bankruptcy in an attempt to separate its American assets from its French parent company.

In a statement Monday, the game-maker said it had filed for Chapter 11 bankruptcy protection in the United States, but will continue operations as normal.

"[We] have decided to take what we think is the best decision to protect the company and its shareholders," said CEO Jim Wilson.

The company expects to sell or restructure its assets within the next 90 to 120 days.