THQ Files For Chapter 11 Bankruptcy

Illustration for article titled THQ Files For Chapter 11 Bankruptcy

The publisher behind games like Saints Row and Homefront has filed for bankruptcy.


THQ is going to Chapter 11, the company said in a press release today. They'll continue to operate as normal—in other words, all future games will continue as planned—as they go through the bankruptcy process.

"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," CEO Brian Farrell said in the press release.


"We are grateful to our outstanding team of employees, partners and suppliers who have worked with us through this transition. We are pleased to have attracted a strong financial partner for our business, and we hope to complete the sale swiftly to make the process as seamless as possible."

THQ emphasized that this bankruptcy will not affect any of the games they currently have in production, a library that includes Metro: Last Light, South Park: The Stick of Truth, and Homefront II.

"All of the company's studios remain open, and all development teams continue," the press release reads. "The company remains confident in its existing pipeline of games."

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If I understand correctly, this does not mean THQ will fall apart, merely that THQ is presently unable to solve their debt issues. Other companies, like CompUSA, have been through bankruptcy and survived, and THQ has three games almost ready to go.