Not long ago, we had some discussion on game companies that were struggling in this economy. Midway was one of the ones mentioned. Well, now their US branch has filed for Chapter 11 bankruptcy. Chapter 11, if you're not familiar with it, means they want to continue operating but need protection to reorganize the company.
This filing seems kind of strange when reading that link, because it mentions several recent games that have sold millions of copies. There has also been talk of a new Mortal Kombat movie in the works. The company apparently has some large past debts they need to make up, though.