Dead Drop: THQ Files for Bankruptcy

It’s been a long few years for THQ and the iconic developer and publisher has announced it has filed under Chapter 11 of the US Bankruptcy Court for the District of Delaware this morning. The investment firm Clearlake Capital Group is to “acquire substantially all of the assets of THQ’s operating business, including THQ’s four owned studios and games in development.”

Clearlake Capital Group is not expected to purchase THQ or its assets, but rather to hold onto and then auction off them.

The company has also announced that neither a decrease in work staff nor interruption in the development in titles will be had. This working till the end and going down with your ship mentality is an honorable one, but it also probably has something to do with if the studio is working on projects and not sitting idle it’s worth more to potential buyers.

It seems as though THQ is not looking to sell off the company as a whole, but to use the selling of assets to pair themselves with investors that do believe in them. 

Do yourself and THQ a favor and play this game.

With massive failures such as the uDraw tablet in combination with steady cash cows like Saints Row it will be interesting to see who it is that comes out willing to back the company. None the less the plan is obviously to restructure THQ with investors that can provide both money and faith.

By: Henry