Mad Catz Files for Chapter 7 Bankruptcy

Subject: General Tech | April 1, 2017 - 04:04 PM |
Tagged: Mad Catz, bankrupt

Back in September, we reported on the purchase of Saitek, from Mad Catz to Logitech, for $13 million USD in cash. Unfortunately, we now need to report that Mad Catz has filed for Chapter 7 bankruptcy on March 30th, 2017. This level of bankruptcy is strict; it involves shutting down and liquidating. If we see a Mad Catz in the future, it will be someone else who purchased their trademark.

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When I first heard this news and posted it in our PC Perspective Slack channel, the immediate reaction was, “Is this an early April Fool’s joke?” Apparently not, but it highlights how out-of-the-blue this seemed if they weren’t on your radar. Last year, they shrunk their workforce by about 37%, but the news kind-of flew past us. (A good barometer of company health is that lay-offs around 10% is typical for a restructure. When you start getting past this level, like 15% or more, then it’s okay to be suspicious about whether it’s driven by something other than the stereotypical handbook of corporate management.)

Other than this early tremor, and the New York Stock Exchange delist story from earlier this month, it seemed like the company was just coasting along. Hopefully everyone affected will have no problems finding new employment soon.

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April 1, 2017 | 04:16 PM - Posted by Anonymous (not verified)

Mad Schrodinger Catz, that Chapter (7 or 11) Bankruptcy Wave-Function has collapsed and now we are very sure that you are Dead!

April 1, 2017 | 05:58 PM - Posted by Anonymous (not verified)

once again, pcper has no clue about what is going on and wakes up after everyone's else... And still "writing an article" about it. LOL.

April 3, 2017 | 12:30 PM - Posted by Anonymous (not verified)

Two HUGE news stories are dropping on 4/3/2017 and yes the non benchmarking employees of PCPer need to get out of bed and serf the web and see what's shaking as far as the news is concerned. The few benchmarking folks the PCPer has definitely earn their keep, but their needs to be a weekend guy and and early riser weekday(Mondays especially) guy that can get some news up when it breaks!

April 1, 2017 | 10:26 PM - Posted by agello24 (not verified)

This is bad, but not as bad as 3dfx filing for bankruptcy.

April 2, 2017 | 05:32 AM - Posted by PeterG (not verified)

No wonder.. Terrible products

April 2, 2017 | 12:16 PM - Posted by Anonymous (not verified)

How they even managed to stay in business as long as they did...and anyone that would buy that name wouldn't be doing themselves any favors...I'd rather go with the company name "cheap worthless garbage" as a brand name.

April 2, 2017 | 12:36 PM - Posted by CNote

The last madcatz crap I bought was for my original Xbox....

April 3, 2017 | 09:39 AM - Posted by mouf

Yea, when there name comes up in the news I am always surprised they still exist as well. I also thought they fell off the face of the earth after the original Xbox.

April 3, 2017 | 04:22 PM - Posted by Anonymous (not verified)

Meanwhile, a month since the launch of Ryzen and still no motherboard reviews.

April 3, 2017 | 08:59 PM - Posted by Anonymous (not verified)

Haha I work at this company in San Diego. AMA??

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