Atari files for bankruptcy

According to reports, long time video game developer Atari has filed for bankruptcy.

The LA Times is reporting that Atari, the creators of such titles as Pong and Tetris, amidst financial difficulties has filed for legal help. Polygon is also reporting that Atari North America is filing for bankruptcy to distance itself from its parent company based in France. Atari France has long had legal issues with share prices and revenue continuing to drop over the past several years.

Atari North America is using a London-based financial group to see them through the bankruptcy in hopes of breaking away from Atari and re-establishing themselves as a new group.

Atari's current projects consist of a Pong recreation for Zynga and mobile versions of Centipede: Origins, Origins, Dungeons and Dragons, and Rollercoaster Tycoon.

We'll keep you updated.