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Mad Catz - Files for bankruptcy

kameshss
By kameshss
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Mad Catz Interactive announced today that it has filed for bankruptcy.

 

Mad Catz Interactive is the parent company of video game accessory maker Mad Catz and audio company Tritton. It voluntarily filed for bankruptcy yesterday, March 30, with its directors and officers also resigning.

 

 In February 2016, the company laid off roughly one-third of its staff, despite what appeared to be a lucrative deal with Harmonix to supply the official controllers for Rock Band 4 and serve as its global distributor. It didn't help. Last week it was delisted from the New York Stock Exchange over its "abnormally low trading price," and today GamesIndustry reported that Mad Catz has filed for Chapter 7 bankruptcy. 

 

Quote

 

"Regrettably and notwithstanding that for a significant amount of time the Company has been actively pursuing its strategic alternatives, including various near term financing alternatives such as bank financing and equity infusions, as well as potential sales of certain assets of the Company or a sale of the Company in its entirety, the Company has been unable to find a satisfactory solution to its cash liquidity problems," Mad Catz president and CEO Karen McGinnis said in a statement. 

 

 

 

 

Mad Catz said that it was forced to enter bankruptcy after being informed by its financial advisor that "no viable strategic alternative in respect of a sale of the Company or other corporate sale transaction" was available. Lenders were also unwilling to further increase its credit limits. 

 

Shortly thereafter, Harmonix announced that it would partner with competing accessory maker PDP for future Rock Band 4 hardware. Mad Catz CFO Karen McGinnis later said, "Although the overall Rock Band 4 program was incredibly disappointing for us, exiting the relationship with Harmonix at this time allows us to focus our efforts on the development and execution of our other exciting and profitable product launches."

 

Mad Catz had formed a committee last year to explore ways of maximizing shareholder value, ultimately leading to today's news. It considered selling off assets, among other options, but the panel could not find a way to sufficiently resolve the company's financial situation.

 

Source: PCGamer, GameSpot

 

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Posted

That tends to happen when you have a shit products and very little marketing presence. Sad!

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Well that is a shame, had a few friends who loved their mice and keyboards.

 

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They actually really cool peripherals design. But I am fine with Logitech stuff

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1 minute ago, Sakkura said:

Guess this is why Rock Band controllers have been so scarce in many places.

 

Who are PDP? Is PewDiePie secretly making computer peripherals?

Well he had to do something when Maker dropped him.

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Posted

isn't trittron pretty good for gaming headsets? I know a streamer that has one of their products and the audio quality from it is pretty good.

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I really liked that company.their modular mouse concept was great

My life

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How could a company that makes this every fail?!:

mad-catz-cubicon.jpg

Seriously though, no surprise seeing this news.. Good riddance Mad Catz.

10 minutes ago, tlink said:

isn't trittron pretty good for gaming headsets? I know a streamer that has one of their products and the audio quality from it is pretty good.

It's alright for a gaming headset. Their comfort is pretty horrid IMO and sound is ech. Just because a streamer says it's good, doesn't mean it's good (neither does me saying it's bad make it objectively bad.. but.. IMO it's not good stuff).

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Posted

Where am I supposed to get a Saitek products now?

 

Oh wait, Logitech bought em...Thanks logi! :D 

Looking at my signature are we now? Well too bad there's nothing here...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What? As I said, there seriously is nothing here :) 

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6 minutes ago, Minibois said:

How could a company that makes this every fail?!:

mad-catz-cubicon.jpg

 

WHAT ARE THOSE?????

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4 minutes ago, deXxterlab97 said:

WHAT ARE THOSE?????

Just Googling "Mad Catz <any console> controller" brings up some fiiiiine stuff.

But that one is just about the worst. The ultimate "player 2"/"you're the guest here"-controller.

 

"We're all in this together, might as well be friends" Tom, Toonami.

 

mini eLiXiVy: my open source 65% mechanical PCB, a build log, PCB anatomy and discussing open source licenses: https://linustechtips.com/topic/1366493-elixivy-a-65-mechanical-keyboard-build-log-pcb-anatomy-and-how-i-open-sourced-this-project/

 

mini_cardboard: a 4% keyboard build log and how keyboards work: https://linustechtips.com/topic/1328547-mini_cardboard-a-4-keyboard-build-log-and-how-keyboards-work/

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R.I.P.

Don't ask to ask, just ask... please 🤨

sudo chmod -R 000 /*

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I only know their name because they sponsored some esports team. Never bought anything from them

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40 minutes ago, deXxterlab97 said:

They actually really cool peripherals design. But I am fine with Logitech stuff

Both look like robot turds lmfao

 

Good fucking riddance. Heavy mice with shit shapes, expensive membranes, etc. See you Mad Catz, the industry never gave a flying fuck about you in the first place

idk

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Just now, Droidbot said:

Both look like robot turds lmfao

 

Good fucking riddance. Heavy mice with shit shapes, expensive membranes, etc. See you Mad Catz, the industry never gave a flying fuck about you in the first place

Cool. Never meant good

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25 minutes ago, deXxterlab97 said:

Cool. Never meant good

mad-catz-rat-hero-800x533-c.jpg

 

71TXIRHwb7L._SL1500_.jpg

 

I guess "cool" is a relative term, personally I'd say hideous is more apt. Looks like something a 12 year old kid might draw was involved in an explosion at a car modding workshop.

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1 hour ago, Kloaked said:

Sad!

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1 hour ago, Master Disaster said:

 

I guess "cool" is a relative term, personally I'd say hideous is more apt. Looks like something a 12 year old kid might draw was involved in an explosion at a car modding workshop.

they really did go for the weird abstract "look all you cool gamers, we made a mouse just for you" look, but the rat 7 was nice to use for me atleast because of the customization 

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21 minutes ago, Demonking said:

I hated their arcade sticks, especially them over priced PS4 TE2 sticks $200 for a shitty stick. 

Are there any good sticks under $100 I can get for PC?

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