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THQ Files for Bankruptcy

By Bis18marck7019-12-2012

Sad things always happen at the worst possible moment and with THQ filing Chapter 11 bankruptcy, the Christmas season has just been overshadowed with a huge black cloud for any gamer. Clearlake Capital Group, a private equity firm has entered an asset purchase agreement with THQ to ‘to acquire substantially all of the assets of THQ's operating business, including THQ's four owned studios and games in development.’ THQ stock, having plummeted over the last months (earlier news shows this) on the NASDAQ exchange has been put on hold with an expected delisted within nine days.

THQ CEO Brian Farrell said that:

"The sale and filing are necessary next steps to complete THQ's transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQ's deep bench of talent"

It is the hope of the company to finish up the sale process within 30 days and as no layoffs have been announced just yet, the employees still hold their jobs up until now. It is our hope that they will be able to keep on working within the industry, whether be it under a new THQ studio or an alternative company, and do not suffer too much from this during the closing days of 2012.


Comments (6)
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Posts: 351

Man I knew it was coming, man they came out with some great games in the past few years. Sad day indeed.

Posts: 233

Sad day indeed

Posts: 240

Well, balls.

Posts: 1317

How the fuck did they manage to do this? What about the uplifting news of the success of the humble bundle? What about their successful games in recent times? How have they fucked up? Is there some Soviet general sitting on top sucking out all the money, or what?

Posts: 237

Worst news this year... its really bad... :/ Still, i will buy all of their games, exp for CoH 2, thats not my cup of tea...

Posts: 1548

shiiiiiit :(