Atari Inc. has filed for chapter 11 bankruptcy in a bid to separate itself from French parent company Atari S.A. and focus on growing its business "primarily in the areas of digital and mobile games," according to a press release. The next 3-4 months will see the company liquidating "substantially all" of its assets, including the famed Atari logo as well as the rights to classic games like Pong and Asteroids.
Recent years have seen the corporate entity that we now know as Atari focusing on delivering polished reboots of its classic titles for mobile devices. The Atari brand has changed hands multiple times since the early days of home gaming, but the logo and the games that it represents still means something to longtime gamers.
The company currently known as Atari will continue to stick to the mobile-focused path that it has been in its post-sale days, but the fate of the actual Atari brand won't be determined until we know where the assets being liquidated end up.