THQ files for bankruptcy, their games are still on track

THQ - the company responsible for popular series like Darksiders, Saint's Row and Warhammer 40K: Dawn of War - have filed for Chapter 11 bankruptcy protection, with the majority of its US assets on sale to stalking horse bidder Clearlake Capital Group. The company will be delisted from the stock exchange, but as THQ have filed under Chapter 11 they are expected to maintain the healthy aspects of the company - including those studios currently working on Metro: Last Light, South Park: The Stick of Truth and Company of Heroes 2. This was confirmed by THQ President Jason Rubin on Twitter.

While bankruptcy has incredibly negative connotations normally, it is generally used with reference to Chapter 7, which involves the liquidation and sale of all assets to pay creditors. Chapter 11 generally (and in this case) allows the company to continue working and operating, while giving them some leniency with regards to their debt. Jason Rubin - President of THQ said of the move:

"We have incredible, creative talent here at THQ. We look forward to partnering with experienced investors for a new start as we will continue to use our intellectual property assets to develop high-quality core games, create new franchise titles, and drive demand through both traditional and digital channels."

For the most part this will mean things will continue as usual on the outside, though as Polygon noted, the bankruptcy filing does give us a look into some mysteriously named titles in the works at the various THQ studios. Vigil Games - of Darksiders fame - are working on a title called 'Crawler' - which is hopefully about crawling around like worms in the night.

Relic Entertainment - responsible for THQ's popular RTS series Company of Heroes and Dawn of War - have a title called 'Atlas' under development - apparently set for release in 2014. THQ Montreal - the studio headed by former Ubisoft golden child Patrice Desilets - are developing something called 1666.

Finally, Turtle Rock Studios - who have worked with Valve on Left 4 Dead and Counter Strike in the past - are developing a game called Evolve, which may or may not be the 'Wild' game they said last year would be powered by CryEngine 3. You can read the bankruptcy filing right here if you're interested, although it's pretty dull. What do you think 1666 will be? What do you think Atlas will be? Let us know in the comments below!