MSim
http://www.eurogamer.net/articles/2017-03-31-peripherals-maker-mad-catz-files-for-bankruptcy
 

"As previously disclosed, the company's board of directors formed a special committee in 2016 to explore and evaluate strategic alternatives intended to maximise shareholder value, including a sale of the company," a Mad Catz statement reads.
 
"The Board of Directors made the decision to have the Company make a voluntary assignment in bankruptcy after considering various strategic alternatives, the interest of various stakeholders of the Company as well as a number of other factors. The Board of Directors has been advised by the Company's financial advisor and management that no viable strategic alternative in respect of a sale of the company or other corporate sale transaction is being made available to the company by any third party. In addition, the Board of Directors has also been advised that the Company's lenders will not increase the amount of its credit facilities beyond the current levels."
 
In other words - it's game over.
 
"The Company has been unable to find a satisfactory solution to its cash liquidity problems," Mad Catz now former boss Karen McGinnis concluded. "The Board of Directors and management would like to acknowledge the outstanding efforts of the company's employees in support of its business, especially during the time that the Company faced financial difficulties."
 
 

 
How can you fail to turn a profit making controllers for video games.

Easy, make the quality garbage like they have ever since I can remember back in the 90's.

Not all of their products were garbage.  I have one of their Tournament Edition Arcade Fight Sticks (MvC version) and it is the best peripheral I've bought for any console I've ever owned (all the way back to the Intellivision days).  The build quality is superb and the Marvel Vs. Capcom art is great.  But ya, most of their other products were usually substandard and lacking (stopped buying their controllers in the N64 days, used a buddies OG Xbox controller of theirs).  I will be sad to see them go solely for those premium fight sticks.

ManBearPig
Not all of their products were garbage.  I have one of their Tournament Edition Arcade Fight Sticks (MvC version) and it is the best peripheral I've bought for any console I've ever owned (all the way back to the Intellivision days).  The build quality is superb and the Marvel Vs. Capcom art is great.  But ya, most of their other products were usually substandard and lacking (stopped buying their controllers in the N64 days, used a buddies OG Xbox controller of theirs).  I will be sad to see them go solely for those premium fight sticks.

That was pretty much the only thing they did right.  Everything else was junk.  Decent concepts behind many, like the R.A.T.T. mouse and other controllers, but the execution was poor.
 
 

I have no issues/complaints about my MadCatz xbox 360 controller for the PC.