Well folks, it’s looking more and more like THQ isn’t going to be with us very much longer. After the company filed for bankruptcy THQ attempted to make a quick sale to the Clearlake Capital Group. Unfortunately, the publisher’s debtors lodged objections that were upheld by a Delaware-based Federal Bankruptcy judge. In the wake of that decision, THQ is likely to be broken up and sold piece by piece. Today THQ released a press release stating that they will auctioned by January 22, 2013.
“Today’s ruling provides a clear path. We will now know definitively by Jan. 23rd where we stand,” confirmed Brian Farrell, Chairman and CEO of THQ. “We appreciate the support of our employees, partners, and suppliers now more than ever.”
THQ might survive, if the highest bid for the company as a whole exceeds the value of the individual intellectual properties (Metro, Saint’s Row) and studios (Volition, Relic), the company may remain together. Be sure to check back here for the latest updates on THQs fate.