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3DO File For Chapter 11 Bankruptcy

30th May 2003, 6:04pm
Today, 3DO announced that they have filed for Chapter 11 bankruptcy protection.

3DO announced that they will not suspend or cease their operations, so all you Army Men lovers (Bow your heads in shame j/k) you need not to worry.

"This filing gives us more time to complete transactions in the interest of our stakeholders," said founder Trip Hawkins. "While we hope that this news will generate additional new opportunities, at this point we are focused on pursuing either the sale of the entire company or the sale of its assets."
by Damien