Midway Files for Chapter 11 Bankruptcy
Things aren't so rosy for Midway. GamePolitics delved into Midway's Chapter 11 bankruptcy records to uncover the company's financial woes. Midway owes $281,033,000 in liabilities and has only $167,523,000 in assets. Certainly, sales of the spectacularly innovative Mortal Kombat vs D.C. Universe can cover these bills right? Right?
Midway's creditors and liabilities:
* Wells Fargo Bank - $150,000,000
* Acquisition Holdings Subsidiary - $40,000,000 (Unsecured loan)
* National Amusements, Inc. - $20,147,864
* NBA Properties, Inc. - $17,294,849 (License/Royalty settlement)
* Tangible Media, Inc. - $8,675,954
* Warner Bros. Interactive - $6,654,203
* Artificial Mind & Movement - $2,000,000
* Epic Games - $1,975,000 (License/Royalties)
* Walmart - $1,576,035
* Far Sight Technologies - $1,279,151
* Best Buy - $1,114,036
* Target - $934,156
* Technicolor Video Services - $637,769
* Toys R Us - $615,276
* Ditan/Synergex Canada - $578,316
* CBS Outernet - $314,600
* David Zucker - $300,000 (Severance pay)
* Multi-Packaging Solutions - $287,036
* A.A.F.E.S Headquarters - $276,314
* Kmart - $218,497
* Tigon Studios - $200,000 (License/Royalties)
* Hollywood Entertainment - $190,982
* TNA Entertainment - $160,000 (License/Royalties)
* Professional Films, Inc. - $150,000
* Synergex - Latin America - $149,027
* Pioneer, JB Marketing - $133,353
* Eclipse Advertising - $132,687
* GameStop - $127,250
* Sears, Roebuck - $125,495
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[Source: GamePolitics]
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