Mad Catz files for bankruptcy

Mad Catz Interactive has ceased all operations and filed for bankruptcy.

The company’s board of directors has resigned and all of its subsidiaries have filed for liquidation.

Mad Catz manufactured gaming peripherals such as controllers, keyboards, and joysticks for a number of platforms.

In 2016, the company sold its Saitek subsidiary to Logitech in an attempt to improve the company’s financial situation.

This only delayed the inevitable, as Mad Catz was delisted by the New York Stock Exchange in March due to the low trading price of its stock.

“The company has been unable to find a satisfactory solution to its cash liquidity problems,” said Mad Catz CEO Karen McGinnis.

“The board of directors and management would like to acknowledge the outstanding efforts of the company’s employees in support of its business, especially during the time that the company faced financial difficulties,” she said.

This article first appeared on MyBroadband and is republished with permission.

Now read: Logitech buys Saitek