50°
Submitted by GrimMedia 665d ago | news

THQ enters forbearance agreement with Wells Fargo Capital Finance, CFO resigned

THQ has announced that the company has entered into “forbearance agreement” with Wells Fargo Capital Finance. Also announced was the resignation of the Chief Financial Officer Paul Pucino. Here are the details.

The agreement means that Wells Fargo has agreed to “forbear from exercising its rights and remedies against THQ and its subsidiaries with respect to previous events of default under its credit facility”. This will allow THQ to still receive additional loads from the bank, up to January 15, 2013. Wells Fargo Capital Finance agreed to terms mostly because THQ has “entered into exclusive negotiations with a financial sponsor regarding financing alternatives which may result in, among other things, significant and material dilution to shareholders”. (Industry, THQ)

Alternative Sources
MultiConsoleGamer  +   665d ago
God please someone save Saint's Row.
Captain Qwark 9  +   664d ago
i personally love thq, i will be very upset to see them go under. i love wwe games, darksiders, saints row, and metro last light and south park look amazing
DeforMAKulizer  +   665d ago
=(

Just hang in there long enough for a new Saints Row and the South Park RPG and Crytek's Homefront and CoH 2 and all will be well THQ.
Forbidden_Darkness  +   665d ago
Don't forget about Metro: Last Light, that game also looks like it's going to be a great game.
Fatty  +   665d ago
From Games Radar: "South Park: The Stick of Truth's release was pushed back from March 5, 2013 to "early fiscal 2014," meaning a delay of likely a few months."

Is THQ going to survive long enough to get this one out?
Forbidden_Darkness  +   665d ago
I'm sure one way or another it's going to get released. If THQ go the of the dodo before then, i'm sure a different publisher will release the game.

Add comment

You need to be registered to add comments. Register here or login
Remember
New stories
10°

Hideo Kojima Explains Why Kojima Productions Is Obsessed With 60 Frames Per Second

10m ago - Hideo Kojima, the man behind the Metal Gear Solid franchise has revealed his reasons why Kojima P... | PC

Ubisoft has no plans to release another Assassin's Creed on PS Vita

10m ago - Ubisoft has no plans to release another Assassin's Creed game on PlayStation Vita, according to c... | PS Vita
10°

Clipping Error Ongoing Destiny Review Part 1 - Up To Level 11

10m ago - The Clipping Error review for Destiny will be made over several parts, this is the first of those... | Xbox 360

Talisman: Digital Edition New Update To Be Released This Week, Adds iPhone Support

11m ago - Talisman: Digital Edition will receive a new update this week, adding iPhone support and more. | iPhone
Ad

Destiny The Game

Now - Explore Mars, Rediscover Venus, Reclaim the moon, Protect Earth. Become Legend. The wait is over! Destiny is now available to play, Pick up your... | Promoted post
30°

Gamers With Gains – Be A Stronger Gamer

18m ago - Have you ever wanted to gain muscle and be healthy while playing all the video games you want? We... | Culture