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THQ defaults on $50m credit facility

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Firm's troubles continue as it fails to meet payments due to a lender

Troubled publisher THQ has revealed that it has defaulted on some part of a $50 million credit facility with lender Wells Fargo on multiple occasions.... read more

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THQ defaults on $50m credit facility

Postby Osiris25 » 12 Nov 2012, 18:24

Goodbye THQ we hardly new you........................................................................................................... ................................................................................................................................................................to release a decent game :wink:
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Re: THQ defaults on $50m credit facility

Postby Codename4p » 12 Nov 2012, 19:33

Sad to see them go the way they are! I liked a few of their titles, but sadly not enough good games!

I just hope there main franchises getting picked up!

I can see Darksiders, Homefront, the Warhammer 40K, Metro, Company of Heroes, South Park and WWE getting picked up by other companies.
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Re: THQ defaults on $50m credit facility

Postby karkify » 12 Nov 2012, 19:50

If they did end up imploding, I'm sure those titles would get picked up by someone else. Those games are nowhere near as bad as the situation THQ are in, well, Company of Heroes and Metro aren't, who knows about South Park?
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Re: THQ defaults on $50m credit facility

Postby Queen Skillage » 12 Nov 2012, 19:57

South Park better still come out! Otherwise I'll....um....well, I'll pout, stamp my feet and shake my tiny raged fist into the air!
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Re: THQ defaults on $50m credit facility

Postby mangle » 12 Nov 2012, 20:00

Actually pretty sad news. I really like THQ. They've published many more games I've been interested in than the likes of Ubisoft or EA. Always a bit sad to see a developer/publisher go under, regardless of whether their games were of interest to you or not.
Hopefully they can come to some sort of arrangement and carry on putting out games.
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Re: THQ defaults on $50m credit facility

Postby Jingee » 12 Nov 2012, 20:17

Sad news, but hopefully we can still have Bioshock Infinite, CoH2, and South Park.
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Re: THQ defaults on $50m credit facility

Postby Mini-Nev » 12 Nov 2012, 21:02

Jingee wrote:Sad news, but hopefully we can still have Bioshock Infinite, CoH2, and South Park.


Seeing as Bioshock has nothing to do with THQ I reckon this won't effect it.
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Re: THQ defaults on $50m credit facility

Postby IAmTheWalrus » 12 Nov 2012, 21:05

Jingee wrote:Sad news, but hopefully we can still have Bioshock Infinite, CoH2, and South Park.


Bioshock is Take-Two games. :?

..... hopefully they don;t fold, I still love playing UFC 3 online, be freaked if they have to shut down their servers, not to mention the hundreds upon hundreds of employees who will be let go. :(
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Re: THQ defaults on $50m credit facility

Postby frazzerr » 12 Nov 2012, 21:32

Goodbye THQ we hardly new you........................................................................................................... ................................................................................................................................................................to release a decent game


I'm guessing you're one of the many morons who would love to see THQ disappear? So I'm guessing you're happy that thousands of people could possibly lose their jobs and that's okay?
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Re: THQ defaults on $50m credit facility

Postby flyfletch » 12 Nov 2012, 21:34

I remember years ago when THQ first came on the scene, i wouldnt buy a game they made because ever single time it was awful.

Things are a lot better now, but clearly not enough or they wouldnt be in this trouble now.......Its still sad though, as a lot of jobs are at risk.
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Re: THQ defaults on $50m credit facility

Postby Megatrons_Fury » 13 Nov 2012, 00:52

Its been coming for such a long time now.
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Re: THQ defaults on $50m credit facility

Postby DAEDALUS79 » 13 Nov 2012, 01:00

Maybe this will finally mean a decent developer will get ahold of the wwe rights.
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Re: THQ defaults on $50m credit facility

Postby Yellow6 » 13 Nov 2012, 08:11

Isn't THQ in this mess because some "genius exec" made them put almost their entire resources into some
drawing peripheral?....that was such a waste they eventually canned it after pouring $50m into it :shock:
The genius convinced them it was going to be bigger than the Wii (this was a couple of years ago).
I think there games, over the last 5 years at least, have actually sold well, ok Darksiders 2 may not have acheived
targets but it's still big.
I'm too lazy to bother googling any of the above so that's just what I think happened.
Having said that, if any of this is true it would be a shame to see them go under for a decision on hardware/peripherals that even a good stable of games could not help them recover from :cry:
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Re: THQ defaults on $50m credit facility

Postby flyfletch » 13 Nov 2012, 08:56

Yellow6 wrote:Isn't THQ in this mess because some "genius exec" made them put almost their entire resources into some
drawing peripheral?....that was such a waste they eventually canned it after pouring $50m into it :shock:
The genius convinced them it was going to be bigger than the Wii (this was a couple of years ago).
I think there games, over the last 5 years at least, have actually sold well, ok Darksiders 2 may not have acheived
targets but it's still big.
I'm too lazy to bother googling any of the above so that's just what I think happened.
Having said that, if any of this is true it would be a shame to see them go under for a decision on hardware/peripherals that even a good stable of games could not help them recover from :cry:



If they had been in a good financial position back then, even the failure of that drawing rubbish shouldnt have put them under, it shows how weak they have been for ages and no one knew.

Good thing is that if they do go under i would expect a lot of other companies would buy up their games. Hopefully someone will pick up South Park and Company Of Heroes at least :)
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