Well, it’s official, THQ’s long, sad, struggle to stay alive is in its final throes — the company has filed for Chapter 11 bankruptcy.
But wait! That’s not a bad thing! Noooo, president of THQ Jason Rubin hit the Internet as soon as the news got out to inform us all that this bankruptcy is actually a good thing. A chance for them to get their house in order! A glorious new beginning!
A private equity firm called Clearlake Capital Group is buying up THQ and providing money to finish already announced games like Metro: Last Light and South Park: The Stick of Truth. Also, hey, tons of companies have filed for Chapter 11 and come back — Macy’s, General Motors, MGM and so on!
Of course most of those businesses are iconic American companies that were “too big to fail”, not mid-sized video game publishers without much of an identity, but sure, you just keep hoping for a federal bailout in your stocking THQ.
via Kotaku
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At least we still get the Stick of Truth.
Do we get Metro: Last Light? Then I’m OK with it.
Agreed, also Im really interested how the South Park RPG comes out, the combat system looks snazzy.
Wht will become of THQ man?! :O
Dammit, I wanted to buy THQ for the kids’ Christmas.
They did it again. I wanted the last chocolate cruller last Thursday from the bakery downtown and Clearwater even beat me to that.
Wait, did MGM and Macy’s actually get federal bailouts? That seems wrong. Anyway, I hope Rubin’s right about that. I’m not a big fan of anything THQ’s made (mostly because I haven’t played any of their recent efforts), but it’s never cool when a company goes out of business, especially a big publisher.
They did not, to my knowledge. Tax breaks, maybe.
My company went through Chapter 11 back in 2009. We came out and were immensely more profitable. Chapter 11 can be a great thing with solid management.
Dammit, if I lose my Warhammer 40k RPG, I’ll be pissed. Not enough to actually DO anything, but, you know.