Sega GameWorks Files For Bankruptcy

Japanese newspaper the Nihon Keizai Shimbun is reporting that lawyers representing Sega GameWorks have filed the company for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. The California arcade operator was established in 1996 and is owned by a variety of companies, including a US subsidiary of Sega and Vivendi Universal Entertainment. The company operates 20 entertainment facilities across the US that feature video games, attractions, restaurants and bars. It is expected to continue operations and will attempt to improve earnings by cutting costs. Source: Dow Jones Newswires