THQ Bankrupt

-Greg Livingston

THQ, responsible for publishing titles such as Saints Row: The Third and Metro 2033, filed for bankruptcy today. Clearlake Capital Group is prepared to buy THQ for $60 million, though the company is open to other bids.

No matter what the outcome, THQ’s development studios will continue to work during the process.

THQ has performed poorly in the recent past, from its ill-fated UDraw tablet to lowering sales of Pixar and DreamWorks games. By October, THQ had defaulted on a loan through Wells Fargo.

With any luck, this will give THQ the push it needs to succeed.