After months of struggle, THQ announced on Wednesday that it had filed for Chapter 11 bankruptcy. Thankfully, though, a savior investor arrived to buy up all of THQ's assets and ensure that everything is business as usual.
Thanks to investment group Clearlake, all of THQ's upcoming games, including Saints Row 4, Homefront 2, Company of Heroes 2, Metro: Last Light, and South Park: The Stick of Truth, are still in development. Further, none of THQ's development studios will close.
From the press release announcing the purchase by Clearlake:
“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,” said Brian Farrell, chairman and chief executive of THQ, in a statement. “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 hope to complete the sale swiftly to make the process as seamless as possible.”
There are some other details, but that's the gist of it. THQ fans should be relieved—this could have gone much, much worse.