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