PS2 News: 3DO Files for Banruptcy - PS2 News

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3DO Files for Banruptcy

   It appears the great story of 3DO concludes at Chapter 11, with little or no chance of a follow-up novel in the future. The company made famous through those amazing Army Men games has finally filed for bankruptcy and demonstrated what many critics already predicted for the company. 3DO will continue to operate under the “debtors-in-possession” provision in the bankruptcy code and provided the statement, “This filing gives us more time to complete transactions in the interest of our stakeholders," said Trip Hawkins, chairman and CEO of 3DO. "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."

   We'll continue to bring you more information as we receive it. 3Do is currently working on the very classy Four Horsemen of the Apocalypse.

5/28/2003 Matt Stensrud

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