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THQ Struggling To Survive

Poor financials and the poor sales of Darksiders II put THQ in trouble.

Well it looks like the global down turn is going to claim its first major publisher in the form of French company THQ, following a very poor financial report in which in their second quater of the year made losses of $21 million. There have been reports that the firm has been advised against taking calls from its investors from Centreview, who were advisors to the sale of Sonicwall to Dell.

Michael Pachter of Wedbush Securities (leading investment and financial services firm) stated that "We expect creditors to be asked to renegotiate terms at a discount; if they are unwilling, bankruptcy is possible."

THQ has already delayed two of my most anticipated games which are Company of Heroes 2 and Metro: Last Light furthermore THQ has refused to comment about the delay when asked by industry reporters.

Poor sales of Darksiders 2 haven't helped THQ with their position in the market as the game struggled to break just 2 million sales across all formats (PC, Xbox, WII, and PS3) up to October, despite good reviews from critics. THQ itself stated that the game “did not perform to our expectations".

All of us at CCL hope that THQ and their fortunes can turn back around as there's a lot of potential in the company as seen from their future release titles, but as Pachter also commented “We do not believe THQ is investable for most institutions”

Good luck guys…