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Liquidation Bankruptcy Approval Granted To THQ
THQ has been granted approval of its liquidation bankruptcy plan. This means that this is very likely the last we will hear of THQ.
THQ began liquidating its assets earlier this year, auctioning off its properties, and was officially closed by the end of January.
All that's left now is for THQ to pay off its last remaining creditors with the money gained through the sale of its assorted properties. Creditors are expected to expected to receive 20 to 52 percent of what they're owed.
[Source: Bloomberg]
Our Take
In our opinion THQ died at the top if its game. It's unfortunate that it wasn't able to recover from its financial struggles, even with a line up of exciting games on the horizon.
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