The hashtag #RIPMadCatz has surfaced on Twitter as a gloomy confirmation of what many gamers hoped would never come—Mad Catz Interactive voluntarily filed for bankruptcy. Mad Catz made the announcement today just a week after the company was delisted from the New York Stock Exchange. The news is unfortunate but it’s far from surprising. If anything, fans of Mad Catz’s arcade sticks were simply sitting in the shadows with their fingers crossed, hoping that somehow, someway the inevitable would be avoided.
Back in January the NYSE threatened to delist Mad Catz if the company failed to increase the value of its stock. At that time, Mad Catz stock was trading for a measly $.15. More recently, that number dropped to the single digits and eventually the stock was being traded for $.02. It was nothing less than an ominous foreshadowing of Mad Catz’s imminent doom.
Now that the day of reckoning has finally come, the fighting game community has been particularly active online in paying their respects to the gaming peripheral company. Mad Catz was around to support the FGC even in the early days of esports. Before anyone would have imagined competitive gaming would catch fire the way it has in recent years, Mad Catz was supporting players and advocating for the culture. Regardless of which gaming peripherals company reigns supreme in your mind, it’s impossible to ignore Mad Cat’s influence and impact over all these years.
#RIPMadCatz ! You will be missed.