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Submission + - THQ Files for Bankruptcy (forbes.com)

Spottywot writes: News long anticipated arrived Wednesday, with the announcement that THQ Inc and its subsidiaries have filed voluntary petitions for bankruptcy under Chapter 11 of the US Bankruptcy Court for the District of Delaware. It also announced its plans to sell the company entire.

Affiliates of Clearlake Capital Group have agreed to act as the “stalking horse” by submitting a $60m bid for the troubled game manufacture under an Asset Purchase Agreement. Other potential buyers will be able to submit bids once the court has approved.

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THQ Files for Bankruptcy

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