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Mar312017

« Mad Catz files bankruptcy, closes its doors »

Longtime peripheral maker Mad Catz has gone out of business amid financial woes.

According to Reuters, the company has filed chapter 7 bankruptcy, which means that MCZ will shutter and begin to liquidate its assets to pay creditors.

Mad Catz has been in financial trouble since its deal to co-publish Rock Band 4 and design the instruments as a means of stabilizing the company failed. The company incurred heavy layoffs in early 2016, and stock prices sharply dropped in January 2017.

The company was delisted from the New York Stock Exchange on March 23, 2017.

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