THQ Files for Chapter 11 Bankruptcy

It’s no secret to the gaming industry that THQ hasn’t exactly been in the best shape lately. After the whole uDraw debacle, they lost significant funds by trying too hard to focus on a dying licensed games market. People would rather buy a Wii than buy a couple new movie-based kids games.  This was compounded by the fact that many games expected to perform well like Darksiders II (which is a great game that everyone should honestly play) performed very poorly. Homefront sold so poorly they had to shut down that entire studio and layoff several employees.

As expected, THQ has hit rock-bottom and has had to officially file for bankruptcy. However, this is just a necessary step for the company, according to chief executive Brian Farrell:

“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.”

As a gamer, I seriously hope that this doesn’t impact their plans for future releases. South Park: The Stick of Truth is easily in my top 5 most anticipated games of next year and Saints Row 4 has already been confirmed to be in the works. Only time will tell, but I sincerely wish THQ the best of luck in this ordeal.

Let us know your thoughts on the situation down below!

Source: LA Times

About the author

David Jagneaux

I am The Dean (Editor-in-Chief) of PlayStation University. As a lifelong lover of both playing games and communicating, I knew that gaming journalism was the perfect fit. Over the years I have honed these skills in order to distinguish myself as an ambitious and creative writer passionate about gaming and the games industry.