Game Maker THQ Files for Bankruptcy

Private equity firm bids to purchase assets

THQ, the folks behind WWE licensed games, Red Faction, and Saints Row, have filed for Chapter 11 bankruptcy protection while they reorganize. Private equity firm Clearlake Capital Group has emerged as a stalking horse bidder with $60 million being offered for a substantial portion of the developer/publisher's assets. 

 

From the company's statement: 

“THQ will continue operating its business without interruption during the sale period."

“All of the company’s studios remain open, and all development teams continue. Consumers and retailers should see no changes while the company completes a sale. The new financing will support business operations throughout the period. THQ does not intend to reduce its workforce as a result of the filing.”

 

"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," said THQ CEO Brian Farrell.


What THQ game series are you hoping will emerge from the sale/reorganization? 

 

via THQ

 

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Scott Green is editor and reporter for anime and manga at geek entertainment site Ain't It Cool News. Follow him on Twitter at @aicnanime.

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