THQ, still suffering from monetary issues with its pending releases, has just filed Chapter 11 bankruptcy, with Clearlake stepping in as the "stalking horse bidder" for the sale, picking up all the company's assets and projects, including the forthcoming South Park: The Stick of Truth and Metro: Last Light.
However, Jason Rubin, the company's president, assures that the company will live on, and that the forthcoming projects from them will still find a release. Furthermore, he also stated that employees still have jobs, despite everything that's happening.
Said Rubin, "The most important thing to understand is that Chapter 11 does not mean the end of the THQ story or the end of the titles you love. Quite the opposite is true, actually."
"In short, the teams will be unburdened by the past and able to focus on what they should be focusing on – making great games."
You can read the post in its entirety here. We certainly wish THQ all the best in bouncing back for 2013.