THE NEWS: Video game maker Atari's U.S. operations have filed for Chapter 11 bankruptcy protection in an effort to separate from their French parent company.

THE CONTEXT: France's Infogrames Entertainment first took a stake in Atari in 2000. It acquired the rest of the company in 2008 and changed its name to Atari S.A. But the U.S. operations have been better performing than the overall company, which has said it expects to report a "significant loss" for fiscal 2012.

WHAT'S NEXT: Atari U.S. expects to sell its assets or confirm a restructuring plan within the next three to six months.