Midway Files for Bankruptcy

| | Comments (0)
MidwayWhen Midway was purchased in December, it came with a significant debt load. FI noted at the time that any sensible investor taking on a company's debt has a plan to deal with it. Apparently, Mark Thomas (the private investor who bought Sumner Redstone's stake in Midway) either isn't a sensible investor, or has another agenda, because today Midway filed for Chapter 11 Bankruptcy.
Previously, Midway negotiated with its debtholders a reprieve until February 19. But now that seems like a simple delaying tactic to give the company time to put its affairs (for a bankruptcy filing) in order. Midway hopes to continue ordinary operations while it restructures its debt.

Leave a comment

About this Entry

This page contains a single entry by Editor published on February 12, 2009 2:51 PM.

Legends of Norrath: Against the Void Released was the previous entry.

Flower Available as a Download for the PlayStation 3 is the next entry.

Find recent content on the main index or look in the archives to find all content.


Add to Technorati Favorites