Out of convenience. They're temporarily out of cash, but it's a cyclical business and they're going to have a very different balance sheet shortly.

The bankruptcy angle is being played up as the decision-makers are trying to ram a sweetheart sale through to ensure their own lucrative exit from an increasingly-difficult business. (Instead of actually considering competitive bids or seriously seeking funding to cover them until the money starts rolling in again.)

A group of shareholders has just filed suit over the issue.

In any event: there's no chance they stop making games and thus having an interest in the current platform upheaval.

They filed a Chapter 11 Bankruptcy which means they don't have to fully liquidate to their creditors and also means their debt is not absolved, merely that there is a trustee appointed to oversee their assets while allowing the business to continue. They could still end up filing a Chapter 7 in which they would have to liquidate and would mean the end of the company as we know it but they are not there yet.