THQ has Filed for Bankruptcy, but isn't Totally Dead yet
THQ. Chapter 11 Bankruptcy. Still Alive.
Some of you may now that THQ hasn't been doing amazing lately. As of yesterday, they have filed for Chapter 11 bankruptcy. A statement was then released this morning, saying that THQ has entered into an Asset Purchase Agreement with Clearlake Capital Group's (an investment firm) affiliates.
However, the company had this to say:
THQ will be going through a Section 363 sale process, which lets other interested parties come forward with competing bids.
Thankfully, all its existing in-development games, like Company of Heroes 2, Metro: Last Light, and South Park: The Stick of Truth are all reportedly on schedule during the sale process. Also (thankfully), remember that bankruptcy does not always mean "going out of business". THQ is still alive, but it will be going through changes.
The CEO of THQ, Brian Farrell, reassured us that the company is not dead with this:
So now that we know that THQ isn't going out of business, what was your favorite game or moment from THQ? What was your least favorite game? Post your opinions in the comments below.
» Source: http://www.ign.com/articles/2012/12/19/thq-files-for-bankruptcy
» Tagged In: #bankruptcy, #community showcase, #not dead, #thq
But they still arent going to bring back the Red Faction series wich saddens me.
Maybe this statement will brighten Sean's day. I bought Darksiders 2, full price.
Seriously now, I hope the best for everyone at THQ.
man, sometimes i wonder wtf really happened for shit to get this bad. they've made some of the best games and they're struggling to stay alive?
Just don't let this effect the South Park game!!!! Ive never been so excited for a game to come out than this one
WWE is "actively participating" in the proceedings.
This is great news. THQ is one of my favourite developers. And the last thing I want EA getting their greedy, soulless, lazy grubs on the WWE license.
Don't worry, Clearlake is essentially buying THQ, and will fund a good number of their projects. The president of THQ has explained it himself here: http://www.thq.com/us/go/article/view/homepage_article/261277/thq_commun...
They will, or Viacom would have their balls (or just have Obsidian finish it).
I seriously hope THQ can make Stick of Truth before going under.