With no acceptable offers on the table, Atari is going to auction

Atari hasn't been Atari for a long-ass time now. Most recently it was a French EA-style conglomerate called Infogrames that changed its name to Atari after acquiring the brand for better PR.

The Atari name and assets will end up with some other high roller who'll run it into the ground then sell it, not knowing what to do with it.

Nothing more to see.

All the coin-op IP was held by Midway, which then went bankrupt and sold off to Warner. Is that still the case or did the Atari stuff land elsewhere?

What happens to the assets if nobody buys them? Do they have another auction with a lower minimum bid? Or do the debtors take possession?