The Video Game Industry Has No Mercy, THQ Files For Chapter 11 Bankruptcy
The mayans could have seen this one coming. THQ announced today that the publishing outfit has filed for chapter eleven bankruptcy protection in Delaware. The company has gone into negotiations with Clearlake Capital Group, an investment firm looking “to acquire substantially all of the assets of THQ’s operating business, including THQ’s four owned studios and games in development.”
The company hopes to sell the studios and assets in 30 days, but has no plans to engage in layoffs. Workers will be paid normally and publishing will continue uninterrupted during the interim. So the insensitive pricks who are wondering “Wait, do we still get Saint’s Row 4?” should have nothing to worry about.