Things aren’t going so great for Mad Catz, the creator of several video game peripherals since 1989, who for the past three years have failed to meet financial targets, had loans, and now has struck a deal with its creditor, Well Fargo that’ll last until July 31, 2016. But if things don’t get better, the company could be forced into bankruptcy.
Fortunately there’s something in the pipeline which Mad Catz is pinning all hopes onto and that’s Rock Band 4, the upcoming game which Mad Catz and Harmonix are co-publishing. The company is also making arcade boards for Street Fighter IV and Street Fighter V.
Speaking with Game Informer, Mad Catz revealed that it will initially be loaned $20 million, that’ll extend to $35 million from September to ship Rock Band 4. But it’s not all bad news according to Karen McGinnis, chief financial officer at the company, who says that the reason for the initial credit warning was because it was necessary to be transparent in financial documents and that in reality, the situation is much more positive than it sounds.
Either way, if Rock Band 4 tanks, chances are Mad Catz will be dragged along with it. So there’s a lot riding on the launch and return of this musical title.