Dear Reader:

You are viewing a story from GN Version 4.0. Time may not have been kind to formatting, integrity of links, images, information, etc.

REPORT - THQ Denied Approval of Bankruptcy Sale Process and Loan

by rawmeatcowboy
05 January 2013
GN Version 4.0
THQ Inc. (THQIQ), maker of the “Saints Row” and “Company of Heroes” video-game franchises, failed to obtain approval of a loan to help fund operations and lost its bid for a quick bankruptcy sale.

U.S. Bankruptcy Judge Mary F. Walrath at a hearing yesterday in Wilmington, Delaware, sided with creditors that said the proposed sale process didn’t give potential buyers enough time. Walrath found the video-game maker’s efforts to market the company for sale before bankruptcy weren’t sufficient for her to allow the aggressive sale process.

Full report here