Midway Games files Chapter 11

As predicted back in December, Midway Games, Inc. filed its Chapter 11 petition on February 12, 2009, in Delaware. The case number is 09-10465. A maker of computer games available through retail outlets and on-line, Midway Games claims in its press release that its fundamental business is stable, but that obligations related to stock repurchase agreements forced it to seek Chapter 11. European operations will not be affected.

A number of its titles, such as Mortal Kombat v. DC Universe depend on licensing deals and it will be interesting to see if Midway runs into problems assuming those licenses.