Game Maker THQ Files for Bankruptcy
Videogame maker THQ Inc. filed for Chapter 11 bankruptcy, and said its assets will be acquired by affiliates of private equity firm Clearlake Capital Group L.P. in a roughly $60 million deal.
The company said Clearlake — a so-called “stalking horse bidder,” or the lead bidder in a bankruptcy sale — has agreed to acquire the company’s four studios and its games in development. The sale will allow the videogame company to “shed certain legacy obligations and emerge with the strong financial backing of a new owner with substantial experience in software and technology.”
