Despite the success of Midway’s holiday season the company has still been floundering under the crushing weight of over $240 million in debt. In that classic avoidance of ones own failures that often seems in complete contradiction of the capitalist system Midway has filed for Chapter 11 bankruptcy protection. If this goes through the company will be allowed to enter a restructuring phase.

With Wheelman featuring Vin Diesel in the pipeline along with an as-yet unspecified Mortal Kombat title Midway could have enough steam to keep going after the restructuring period, but only time will tell for the developer.