THQ’s Jason Rubin Explains The Bankruptcy

In a post to THQ’s official site, CEO Jason Rubin gave a lengthy, occasionally heartfelt explanation of the company’s decision to file for chapter 11 bankruptcy, as well as his hopes that the decision along with it to be purchased by a third party, will finally save the company from ruin.

“In short,” Rubin says, “they are investing in a new start for our company.” He then went on to assure fans that the games they’re working on will be made. “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.” He continued, adding later that “[w]hatever happens, the teams and products look likely to end up together and in good hands. That means you can still pre-order Metro: Last Light, Company of Heroes 2, and South Park: The Stick of Truth. Our teams are still working on those titles as you read this, and all other rumored titles, like the fourth Saints Row, the Homefront sequel, and a lot more are also still in the works.”

That’s good news not only for fans of those games, but for the jobs at THQ that won’t be lost. While it’s sad to see THQ felled like this, it’s good that, at long last, the death spiral might – I emphasize might – be over. Now all that needs to happen is for their next few games to sell well. Rubin explains the ins and outs of the deal in detail, and it’s worth reading (even if it might be a tad optimistic. I still think there’s another shoe waiting to drop.) Here’s hoping they have the marketing budget to make that happen.

Read the whole statement here.

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