Mad Catz Interactive, a struggling maker of video game accessories, said on Friday that it will file for chapter 7 bankruptcy liquidation after failing to raise capital or find a buyer, the San Diego Union-Tribune reported on Saturday. The company, founded in 1989, is incorporated in Canada but headquartered in Mira Mesa, Calif. Its board of directors and executive officers have resigned, and PricewaterhouseCoopers has been appointed to oversee the company. Mad Catz made gaming accessories, headphones and controllers for in-home gaming consoles, powerful gaming computers and other devices. Its products were sold under the Mad Catz and Tritton brands. In September, Mad Catz sold its Saitek brand of flight simulation controllers to Logitech. The company received $11 million in cash, with $2 million deposited in escrow to cover potential claims. In 2015, a line of accessories for the Rock Band 4 video game helped boost the company’s sales. But revenue has dropped significantly since then. For the first nine months of its fiscal year ended Dec. 31, sales fell 63 percent from the prior year to $44.7 million. The company posted a $4 million loss.
