Mad Catz Files For Bankruptcy

Posted on by Ryan

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Mad Catz, the peripheral companies behind their Street Fighter fight sticks and Triton headsets, have announced they have filed for bankruptcy.

The company released the following statement..

“As previously disclosed, the company’s board of directors formed a special committee in 2016 to explore and evaluate strategic alternatives intended to maximise shareholder value, including a sale of the company,”

“The Board of Directors made the decision to have the Company make a voluntary assignment in bankruptcy after considering various strategic alternatives, the interest of various stakeholders of the Company as well as a number of other factors. The Board of Directors has been advised by the Company’s financial advisor and management that no viable strategic alternative in respect of a sale of the company or other corporate sale transaction is being made available to the company by any third party. In addition, the Board of Directors has also been advised that the Company’s lenders will not increase the amount of its credit facilities beyond the current levels.”

It’s unknown at this time what happens to the brands they own and the tournaments they are sponsoring.