Video game company files for Chapter 11 relief

THQ, Inc., which is best known for its wrestling games and “Saints Row” games, has been struggling financially for some time.  It had already cut costs by shutting down parts of its business operations and cutting staff.  However, it was not enough to keep the company for filing for bankruptcy relief this week.  THQ states that it will sell its business assets through the bankruptcy.  An investment firm, Clearlake Capital Group, has already offered to buy the assets.

One of THQ’s U.S. studios is located in Champaign, IL.  For more on this story you can read, “THQ files for bankruptcy, Clearlake makes bid for assets.”