Well, it’s official, THQ’s long, sad, struggle to stay alive is in its final throes — the company has filed for Chapter 11 bankruptcy.
But wait! That’s not a bad thing! Noooo, president of THQ Jason Rubin hit the Internet as soon as the news got out to inform us all that this bankruptcy is actually a good thing. A chance for them to get their house in order! A glorious new beginning!
A private equity firm called Clearlake Capital Group is buying up THQ and providing money to finish already announced games like Metro: Last Light and South Park: The Stick of Truth. Also, hey, tons of companies have filed for Chapter 11 and come back — Macy’s, General Motors, MGM and so on!
Of course most of those businesses are iconic American companies that were “too big to fail”, not mid-sized video game publishers without much of an identity, but sure, you just keep hoping for a federal bailout in your stocking THQ.