Thursday, December 20, 2012

THQ Files Bankruptcy

Today it was announced by THQ that the company has filed for Chapter 11 which is a reorganization bankruptcy. Along with filing a Chapter 11 the company has entered into an asset purchase agreement with Clearlake Capital Group. The company will acquire the assets of THQ's operating business including their four owned studios and the games in development. 

While Clearlake Capital Group did acquire these assets it will in no way shape or form affect upcoming games in 2013 for THQ. CEO Brian Farrell of THQ regarding the news of this chapter 11 stated "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."

Along with this news the document filing the chapter 11 held information regarding unannounced games that are currently in production. It was revealed that Relic Entertainment is working on a project titled "Atlas" that is currently set to launch in 2014, alongside Company of Heroes 2. Turtle Rock Studios appears to also be developing a game titled "Evolve that is a co-op multiplayer action game. THQ Montreal is also developing a title named "1666", but no information about this game was released aside from the title. And finally Vigil Games has a game titled "Crawler" in development and once again the only information revealed was the title of the project.

What is to come of these revealed games is very unclear, but a community message from Jason Rubin on THQ's website assured gamer's once again that upcoming games will continue in development including rumored title's such as another Saints Row and Homefront. Gamer's don't worry THQ is not going anywhere this is basically a restructuring of the company in order for it to transition into what the company wants to be and to continue to bring gaming entertainment to fans across the world.

Cameron Deao

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