Midway face up to bankruptcy risk
Uncertain future for former giant
Mortal Kombat publisher Midway could be bankrupt in just 50 days time, Variety reporting the extreme nature of the publisher's plight in the wake of major shareholder Sumner Redstone selling his stake in the game maker for just 100,000 USD.
The company apparently needs to find some 150 million USD if it is to survive beyond January 2009.
Midway had 10.3 million USD in the bank at the end of October, but is suffering from some clearly fairly major cashflow problems.
Lazard Capital are working with the firm to try and find a solution to these issues, while shares have plummeted in recent days to just 23 cents a pop, following Redstone's exit.
It is unclear, also, if Midway can maintain their New York Stock Exchange listing.
