After a difficult period of decline, peripheral maker Mad Catz has filed for bankruptcy.

Mad Catz “has been unable to find a satisfactory solution to its cash liquidity problems,” according to former boss Karen McGinnis.

Troubles became apparent last year when Mad Catz announced lay-offs during its financial report following Rock Band 4 sell-through numbers being lower than expected. Those low numbers triggered a company-wide restructuring, part of which included a 37% reduction of its workforce.

The day before its financial briefing, several Mad Catz officials resigned from their positions with the company.

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Source: Rock Band Guitar Peripheral Maker Mad Catz Files for Bankruptcy

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