THQ receives approval for official liquidation

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That’s it folks, the 23 year history of THQ has finally come to an end, as it has received approval for liquidation by Judge Mart F Walrath at a Delaware court heading. Creditors will now be paid using whatever can be made of THQ’s remaining assets.

THQ filed for bankruptcy in December last year and it was hoped for a while that some big spender would swoop in and save the long time publisher, but to no avail. In the end, all of the studios and intellectual properties worth something were sold off: including Relic Games with its Homeworld series, Darksiders, the Saint’s Row series, Company of Heroes, the WWE franchise and the Warhammer 40,000 MMO turned RPG.

thq

Bloomberg is reporting (via Wired) that the sale of THQ assets is likely to recoup somewhere between 20 and 52 per cent of what creditors are owed. The question at this point, is whether THQ’s foreign subsidiaries are entitled to recovery, in which case, the creditors will receive less than they no doubt hoped.

KitGuru Says: Let’s all do it together shall we, for old time’s sake? Ready? 

T… H…Q… it’s in the game.

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