THQ Files for Chapter 11 Bankruptcy

Yes, it is true. THQ files for bankruptcy. A sad day to the gaming world indeed. They are gone, but not completely.

http://www.g4tv.com/thefeed/blog/post/7 ... ore-games/

They aren't quite gone yet. Chapter 11 is a way for companies to restructure and get themselves back on the right track before failing completely. For example, Marvel and MGM both filed Chapter 11 a few years back. Now they're releasing record breaking movies like The Avengers and The Hobbit. THQ may come back from this stronger than ever.

Here's a statement from the President of THQ that explains more about why they've filed Chapter 11. He says all their major game releases are still in the works. The company is basically being purchased by another, but we can probably expect the THQ brand to continue for quite a while.
http://www.thq.com/us/go/article/view/h ... ason_rubin

A lot of companies have filed bankruptcy over the past few years. It doesn't have to mean the end. For some, it is a means to help get themselves going again in better shape. I wish these folks luck as they try to do the same.

Hopefully all works out well for them then. They have been apart of some decent games in years gone by. However I’m not referring to their licensed games based on movies and kids shows though.

It is not good that such a large studio has to file for Bankruptcy, but let's hope they can save the company. I'm not into their games, but it is never good to see the makers of good games facing difficulties.

Like Tilinbelson, I'm not too into their games but that is always sad to hear such bad news... Hope all will go right for them soon !

Seems to be a common theme of companies these days. In the past filing any kind of bankruptcy often meant untold doom. But now in some cases it can be a good thing and in fact some that companies that have done it have become stronger.

RYLEN : As a sort of "must be near the doors of death to be revived stronger" ? That's right, some of video games companies have been through that but it's like all other business : some companies are strong enough to survive a long way and some others are doomed one day or the other...It's a matter of ecnomic life ! Like in the real life.

Well, the plans THQ had didn't go they way they had hoped. They were planning to arrange the bankruptcy so one specific company would buy all of THQ, but THQ's creditors objected to that. Instead, the company was sold off in pieces, with four different companies acquiring various IPs and studios. There's no telling what will happen to the games THQ was hoping to release under their old plan now.

Sega even got in on this, buying what was formerly THQ Canada or Relic Entertainment. I'm not familiar with THQ Canada, but my reading suggests they typically create real time strategy games. I was a bit surprised that Sega would spend on something like this; I thought they were struggling themselves. Maybe getting this new studio and whatever IPs went with it (Sega hasn't revealed that, as far as I know) will give Sega a shot in the arm.

When you see what SEGA is becoming.. very sad to hear all those sad news from the video game industry...