Company cuts down a number of projects to â??improve the cash positionâ?

Atari cancelling projects

Atari has cancelled a number of projects as part of its bid to recover from two years of sustained net losses.

The company stated that “to improve the cash position” it will restructure the business and focus on what it considered “more cost-effective” mass-market and online games.

“As such, the Company has cancelled projects which do not meet higher return on investment criteria and require significant working capital investments,” read the company statement.

It is currently unclear which titles will be cancelled in order to facilitate the cost cuts. A company spokesperson was not able to clarify the situation when approached by Develop.

MCV reports that Atari saw net losses widen to €226.1 million for FY 2008-2009, up from a €51.1 million loss the year prior.

The company has a wide-ranging catalogue of game properties, from franchises such as Driver, Alone in the Dark, V-Rally, Test Drive, Roller Coaster Tycoon and Dragon Ball Z.

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