{"id":6941,"date":"2012-12-19T12:43:51","date_gmt":"2012-12-19T20:43:51","guid":{"rendered":"http:\/\/wakingideas.com\/blog\/?p=6941"},"modified":"2012-12-19T12:43:51","modified_gmt":"2012-12-19T20:43:51","slug":"thq-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/theculturednerd.org\/?p=6941","title":{"rendered":"THQ Files for Bankruptcy"},"content":{"rendered":"<p><a href=\"http:\/\/wakingideas.com\/blog\/2012\/12\/thq-files-for-bankruptcy\/thq_logo\/\" rel=\"attachment wp-att-6955\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-6955\" alt=\"THQ_Logo\" src=\"http:\/\/wakingideas.com\/blog\/wp-content\/uploads\/2012\/12\/THQ_Logo-300x162.jpg\" width=\"300\" height=\"162\" \/><\/a>There were rumors in the air that this was going to happen, and it finally has. Today, THQ announced in a press release that they are filing for Chapter 11 bankruptcy. At the same time, Clearlake Capital Group LLP offered to acquire THQ&#8217;s assets via Section 363 under Chapter 11, which will allow other interested parties to file competing bids. The estimated offer made by Clearlake totals around $60 million, which includes $10 million to cover the company&#8217;s creditors.<\/p>\n<p>THQ Chairman and CEO, Brian Farrell commented: &#8220;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.\u201d<\/p>\n<p>As the bankruptcy and sale proceed, THQ will continue to work on games that they already have production, and the consumer should see little to no change in releases. All of the development studios are going to remain active, and no employees are expected to be let go at this time.<\/p>\n<p>THQ President Jason Rubin posted on <a href=\"https:\/\/twitter.com\/Jason_Rubin\">Twitter<\/a> about the games in development that are still on schedule for release, saying &#8220;On track for big releases. Busy schedule ahead. <span style=\"text-decoration: line-through;\">@<\/span>Companyheroes,<s>@<\/s>MetroVideoGame,\u00a0<s>@<\/s>SouthPark\u00a0<s>#<\/s>StickofTruth\u00a0still on schedule.&#8221;<\/p>\n<p>Expect to see a fairly quick resolution to this filing, as THQ hopes to have the sale finalized within 30 days.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"entry-summary\">\nThere were rumors in the air that this was going to happen, and it finally has. Today, THQ announced in&hellip;\n<\/div>\n<div class=\"link-more\"><a href=\"https:\/\/theculturednerd.org\/?p=6941\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;THQ Files for Bankruptcy&rdquo;<\/span>&hellip;<\/a><\/div>\n","protected":false},"author":5,"featured_media":6955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2],"tags":[95,147,294,711],"class_list":["post-6941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-comics-videogames","tag-bankruptcy","tag-chapter-11","tag-gaming","tag-thq","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>THQ Files for Bankruptcy - The Cultured Nerd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theculturednerd.org\/?p=6941\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THQ Files for Bankruptcy - The Cultured Nerd\" \/>\n<meta property=\"og:description\" content=\"There were rumors in the air that this was going to happen, and it finally has. Today, THQ announced in&hellip; Continue reading &ldquo;THQ Files for Bankruptcy&rdquo;&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theculturednerd.org\/?p=6941\" \/>\n<meta property=\"og:site_name\" content=\"The Cultured Nerd\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theculturednerd\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-19T20:43:51+00:00\" \/>\n<meta name=\"author\" content=\"Neil Fastabend\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theculturednerd\" \/>\n<meta name=\"twitter:site\" content=\"@theculturednerd\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Neil Fastabend\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941\"},\"author\":{\"name\":\"Neil Fastabend\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#\\\/schema\\\/person\\\/1e3be914363df6dc0e05fcfc0fbf9363\"},\"headline\":\"THQ Files for Bankruptcy\",\"datePublished\":\"2012-12-19T20:43:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941\"},\"wordCount\":242,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Bankruptcy\",\"Chapter 11\",\"Gaming\",\"THQ\"],\"articleSection\":[\"Comics &amp; Video Games\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941\",\"url\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941\",\"name\":\"THQ Files for Bankruptcy - The Cultured Nerd\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2012-12-19T20:43:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/theculturednerd.org\\\/?p=6941\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/?p=6941#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/theculturednerd.org\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"THQ Files for Bankruptcy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#website\",\"url\":\"https:\\\/\\\/theculturednerd.org\\\/\",\"name\":\"The Cultured Nerd\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/theculturednerd.org\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#organization\",\"name\":\"The Cultured Nerd\",\"url\":\"https:\\\/\\\/theculturednerd.org\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/theculturednerd.org\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/cropped-Head.png\",\"contentUrl\":\"https:\\\/\\\/theculturednerd.org\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/cropped-Head.png\",\"width\":1347,\"height\":978,\"caption\":\"The Cultured Nerd\"},\"image\":{\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/theculturednerd\\\/\",\"https:\\\/\\\/x.com\\\/theculturednerd\",\"https:\\\/\\\/www.instagram.com\\\/theculturednerd\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/theculturednerd.org\\\/#\\\/schema\\\/person\\\/1e3be914363df6dc0e05fcfc0fbf9363\",\"name\":\"Neil Fastabend\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g\",\"caption\":\"Neil Fastabend\"},\"url\":\"https:\\\/\\\/theculturednerd.org\\\/?author=5\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"THQ Files for Bankruptcy - The Cultured Nerd","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theculturednerd.org\/?p=6941","og_locale":"en_US","og_type":"article","og_title":"THQ Files for Bankruptcy - The Cultured Nerd","og_description":"There were rumors in the air that this was going to happen, and it finally has. Today, THQ announced in&hellip; Continue reading &ldquo;THQ Files for Bankruptcy&rdquo;&hellip;","og_url":"https:\/\/theculturednerd.org\/?p=6941","og_site_name":"The Cultured Nerd","article_publisher":"https:\/\/www.facebook.com\/theculturednerd\/","article_published_time":"2012-12-19T20:43:51+00:00","author":"Neil Fastabend","twitter_card":"summary_large_image","twitter_creator":"@theculturednerd","twitter_site":"@theculturednerd","twitter_misc":{"Written by":"Neil Fastabend","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theculturednerd.org\/?p=6941#article","isPartOf":{"@id":"https:\/\/theculturednerd.org\/?p=6941"},"author":{"name":"Neil Fastabend","@id":"https:\/\/theculturednerd.org\/#\/schema\/person\/1e3be914363df6dc0e05fcfc0fbf9363"},"headline":"THQ Files for Bankruptcy","datePublished":"2012-12-19T20:43:51+00:00","mainEntityOfPage":{"@id":"https:\/\/theculturednerd.org\/?p=6941"},"wordCount":242,"commentCount":0,"publisher":{"@id":"https:\/\/theculturednerd.org\/#organization"},"image":{"@id":"https:\/\/theculturednerd.org\/?p=6941#primaryimage"},"thumbnailUrl":"","keywords":["Bankruptcy","Chapter 11","Gaming","THQ"],"articleSection":["Comics &amp; Video Games"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/theculturednerd.org\/?p=6941#respond"]}]},{"@type":"WebPage","@id":"https:\/\/theculturednerd.org\/?p=6941","url":"https:\/\/theculturednerd.org\/?p=6941","name":"THQ Files for Bankruptcy - The Cultured Nerd","isPartOf":{"@id":"https:\/\/theculturednerd.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/theculturednerd.org\/?p=6941#primaryimage"},"image":{"@id":"https:\/\/theculturednerd.org\/?p=6941#primaryimage"},"thumbnailUrl":"","datePublished":"2012-12-19T20:43:51+00:00","breadcrumb":{"@id":"https:\/\/theculturednerd.org\/?p=6941#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theculturednerd.org\/?p=6941"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theculturednerd.org\/?p=6941#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/theculturednerd.org\/?p=6941#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/theculturednerd.org\/"},{"@type":"ListItem","position":2,"name":"THQ Files for Bankruptcy"}]},{"@type":"WebSite","@id":"https:\/\/theculturednerd.org\/#website","url":"https:\/\/theculturednerd.org\/","name":"The Cultured Nerd","description":"","publisher":{"@id":"https:\/\/theculturednerd.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theculturednerd.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/theculturednerd.org\/#organization","name":"The Cultured Nerd","url":"https:\/\/theculturednerd.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theculturednerd.org\/#\/schema\/logo\/image\/","url":"https:\/\/theculturednerd.org\/wp-content\/uploads\/2021\/06\/cropped-Head.png","contentUrl":"https:\/\/theculturednerd.org\/wp-content\/uploads\/2021\/06\/cropped-Head.png","width":1347,"height":978,"caption":"The Cultured Nerd"},"image":{"@id":"https:\/\/theculturednerd.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/theculturednerd\/","https:\/\/x.com\/theculturednerd","https:\/\/www.instagram.com\/theculturednerd\/"]},{"@type":"Person","@id":"https:\/\/theculturednerd.org\/#\/schema\/person\/1e3be914363df6dc0e05fcfc0fbf9363","name":"Neil Fastabend","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/91385d9d87fef04795b1fa0f448d334621715e24d5d0bf5c3aba6719825774bf?s=96&d=mm&r=g","caption":"Neil Fastabend"},"url":"https:\/\/theculturednerd.org\/?author=5"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/theculturednerd.org\/index.php?rest_route=\/wp\/v2\/posts\/6941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theculturednerd.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theculturednerd.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theculturednerd.org\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/theculturednerd.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6941"}],"version-history":[{"count":0,"href":"https:\/\/theculturednerd.org\/index.php?rest_route=\/wp\/v2\/posts\/6941\/revisions"}],"wp:attachment":[{"href":"https:\/\/theculturednerd.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theculturednerd.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theculturednerd.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}