THQ Files for Bankruptcy


THQ Inc, better known as the publisher of games like Company of Heroes, Saints Row 3 and Red Faction, has filed for bankruptcy under Chapter 11.

The company says that it plans to continue to operate as normal without interruption. Its plans to release games like Metro: Last Light and Company of Heroes 2, both slated for an early 2013 release, will proceed as planned.

The company has released a statement about its confidence in the games currently in development and believes it will get back on its feet.

“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,” said Brian Farrell, Chairman and CEO of THQ. “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.” (via Yahoo! News)

The company expects to be delisted from NASDAQ within nine days of the bankruptcy filing.