The Board of Directors made the decision to have the Company make a voluntary assignment in bankruptcy after considering various strategic alternatives, the interest of various stakeholders of the Company as well as a number of other factors. The Board of Directors has been advised by the Company’s financial advisor and management that no viable strategic alternative in respect of a sale of the Company or other corporate sale transaction is being made available to the Company by any third party. In addition, the Board of Directors has also been advised that the Company’s lenders will not increase the amount of its credit facilities beyond the current levels.
Karen McGinnis, President and Chief Executive Officer, stated that, “Regrettably and notwithstanding that for a significant amount of time the Company has been actively pursuing its strategic alternatives, including various near term financing alternatives such as bank financing and equity infusions, as well as potential sales of certain assets of the Company or a sale of the Company in its entirety, the Company has been unable to find a satisfactory solution to its cash liquidity problems. The Board of Directors and management would like to acknowledge the outstanding efforts of the Company’s employees in support of its business, especially during the time that the Company faced financial difficulties. The Company would also like to thank the vendors and professional service providers who have supported the Company’s efforts during this time.”
Hump wrote on Mar 31, 2017, 22:41:
Cant say any of the products I bought from them were worth the money. Logitech has done a better job of catering to gamers needs than any other company I can think of.
Xero wrote on Mar 31, 2017, 21:10:
Good. I still remember buying my second N64 controller from them and the damn thing got jammed in the system. The stupid hook up end of the wire to the system broke off inside the system and I had to mail my N64 back to Nintendo for repair, rofl. Madcatz didn't do shit about it. Assholes.
You know what it was like for a hyper active 14 year old who lives off a console to not have it for almost a month? Rough.
MxxCon wrote on Apr 1, 2017, 02:14:MattyC wrote on Apr 1, 2017, 01:22:My M705 stopped clicking, so...CJ_Parker wrote on Mar 31, 2017, 21:45:SpectralMeat wrote on Mar 31, 2017, 21:01:MacLeod wrote on Mar 31, 2017, 20:49:Saitek and Mad Catz are not the same company or are they?
But now I won't be able to get that Star Citizen branded Saitek controller when the game comes out!
They were the same company. When Mad Catz got into financial trouble they sold off Saitek to Logitech (a match made in shit quality heaven).
If you don't like either company, that is fine, everyone gets an opinion. However, when has Logitech ever been known for "shit quality"? Their mice and keyboards are just about indestructible, assuming you don't down them in liquid, and even then they often live on.
MattyC wrote on Apr 1, 2017, 01:22:CJ_Parker wrote on Mar 31, 2017, 21:45:SpectralMeat wrote on Mar 31, 2017, 21:01:MacLeod wrote on Mar 31, 2017, 20:49:Saitek and Mad Catz are not the same company or are they?
But now I won't be able to get that Star Citizen branded Saitek controller when the game comes out!
They were the same company. When Mad Catz got into financial trouble they sold off Saitek to Logitech (a match made in shit quality heaven).
If you don't like either company, that is fine, everyone gets an opinion. However, when has Logitech ever been known for "shit quality"? Their mice and keyboards are just about indestructible, assuming you don't down them in liquid, and even then they often live on.
MattyC wrote on Apr 1, 2017, 01:22:My M705 stopped clicking, so...CJ_Parker wrote on Mar 31, 2017, 21:45:SpectralMeat wrote on Mar 31, 2017, 21:01:MacLeod wrote on Mar 31, 2017, 20:49:Saitek and Mad Catz are not the same company or are they?
But now I won't be able to get that Star Citizen branded Saitek controller when the game comes out!
They were the same company. When Mad Catz got into financial trouble they sold off Saitek to Logitech (a match made in shit quality heaven).
If you don't like either company, that is fine, everyone gets an opinion. However, when has Logitech ever been known for "shit quality"? Their mice and keyboards are just about indestructible, assuming you don't down them in liquid, and even then they often live on.
CJ_Parker wrote on Mar 31, 2017, 21:45:SpectralMeat wrote on Mar 31, 2017, 21:01:MacLeod wrote on Mar 31, 2017, 20:49:Saitek and Mad Catz are not the same company or are they?
But now I won't be able to get that Star Citizen branded Saitek controller when the game comes out!
They were the same company. When Mad Catz got into financial trouble they sold off Saitek to Logitech (a match made in shit quality heaven).
"Both the “left” and the “right” pretend they have the answer, but they are mere flippers on the same thalidomide baby, and the truth is that neither side has a clue."
- Jim Goad
SpectralMeat wrote on Mar 31, 2017, 21:01:MacLeod wrote on Mar 31, 2017, 20:49:Saitek and Mad Catz are not the same company or are they?
But now I won't be able to get that Star Citizen branded Saitek controller when the game comes out!
Xero wrote on Mar 31, 2017, 21:10:
Good. I still remember buying my second N64 controller from them and the damn thing got jammed in the system. The stupid hook up end of the wire to the system broke off inside the system and I had to mail my N64 back to Nintendo for repair, rofl. Madcatz didn't do shit about it. Assholes.