Reginald
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The long-struggling publisher of Mortal Kombat filed for bankruptcy this morning, calling it a difficult but necessary decision.
The voluntary petition for reorganization under Chapter 11 effects all of its U.S. subsidiaries, but none of its international ones.
"This was a difficult but necessary decision," said Midway Chairman, President and CEO Matt Booty. "We have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."
"SAY WHATTTT?"