THQ files for Bankruptcy
In an effort to continue restructuring their business model and make forward progress publisher THQ has filed for chapter 11 bankruptcy. The sale includes all four current development studios and all works in progress.
Clearlake Capitol Group looks to be the saving grace for THQ moving forward. Clearlake has stepped in as the “stalking horse bidder” more or less to create that “reserve price” you see on eBay every so often where an item can’t slip below a certain value and still be sold.
THQ went on record after the announcement saying that both South Park: The Stick of Destiny and Metro: Last Light are still on schedule for their current release dates. That’s certainly the diamond to pick out of the rough when you take into account the events that have befallen THQ in the last year as a company.
Author: Dylan Zellmer
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