THQ Files For Bankruptcy

THQ has filed for Chapter 11 (the good kind…if there is one) bankruptcy but has also secured a buyer for the company all in one fell swoop.

Look, I am not an expert in bankruptcy laws but the basic setup is that THQ formally filed for Chapter 11 bankruptcy while letting Clearlake Capital Group LLC offer a 60 million dollar consideration for the company as well as pay their creditors 10 million dollars. By filing Chapter 11, THQ was able to choose essentially who bought the company. After this it all gets really technical and I don’t feel like boning up on bankruptcy laws for this article when all you really want to know is if THQ will still finish and release South Park and Metro: Last Light.

Yes. Yes they will.


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