THQ files for bankruptcy, selling games and studios to bidder

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A bit of sad news today as THQ has started filing for bankruptcy. The company has entered a purchase agreement with a bidder to acquire all of THQ’s assets. That includes all the games and studios under THQ’s wing. As with filing for bankruptcy, the reason they’re doing it is to facilitate the sale of the publisher’s owned studios and in-development games.

Don’t worry about current games in development or coming out. Their publishing business will continue uninterrupted and current games will still be working. Brian Farrell, Chairman and CEO of THQ had this to say:

“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”

We’ll keep you up to date on any more details as the story develops. Let us know in the comments what you think of this debacle and post in our forums.

Source: THQ

Coming off from sites like XBLAFans, GameJudgment and TouchArcade, I'm looking to further extend my reach with the multiplatform news. I love all sorts of games from 2d side-scrollers to action/adventures set in fantasies or gothic nature like Castlevania. My 3 favourite games ever are Viewtiful Joe, Super Mario Bros. 3 and Chrono Trigger.