Mad Catz declares bankruptcy, something very predictable after the serious problems of the company, which saw a few days ago it was expelled from the New York Stock Exchange.

It was a matter of days before the news was released and in the end it has been confirmed, Mad Catz goes into bankruptcy. The company after being expelled from the New York Stock Exchange, has declared bankruptcy and the directors of the company have stepped down, who had taken the reins of the company last year to try to improve the listing, something that it has not been possible. Things have not gone well for the company, which has not been saved by selling its subsidiary Saitek.

The company's problems stem from the exclusive manufacture of the peripherals of the Rock Band 4 title, which has been a real failure in sales, causing the peripherals to not be sold, leaving some ten million units in the warehouses of the company. company, which meant the dismissal of about 40% of the workforce and the sale of Saitek to Logitech, to try to make up the accounts, which in the end has not served any purpose.

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"As previously stated, the company's board of directors formed a special committee in 2016 to explore and evaluate strategic alternatives with the intention of maximizing shareholder value, including the sale of the company," says Mad Catz in his statement. official.

"The board made the decision for the company to voluntarily file for bankruptcy after considering various strategic alternatives, the interests of various shareholders, and various factors."

“The company has been unable to find a satisfactory solution to its liquidity problems. The board wants to express the incredible efforts made by the employees who have supported the company, especially during the period that it has experienced financial difficulties. ”

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We can only say goodbye to the company, unless one of the large peripherals acquires it and continues to manufacture peripherals as up to now. There is no data on a possible acquisition, but we should not rule it out. A bad decision has ended with a high-quality company and very good and innovative products.