50°
Submitted by GrimMedia 979d 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  +   979d ago
God please someone save Saint's Row.
Captain Qwark 9  +   978d 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  +   979d 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  +   978d ago
Don't forget about Metro: Last Light, that game also looks like it's going to be a great game.
Fatty  +   978d 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  +   978d 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
40°

StickTwiddlers Podcast 72: Mods & Medical Mishaps

1h ago - Alan, Ben and Jamie talk about the past, present and future of modding as well as how much you ca... | PC
40°

Arcade Game Mechanosaur Hijacks the Moon Launching This Week On The App Store

1h ago - TTP:" A new really interesting arcade game is going to be released on the App Store this week, a... | iPhone
Ad

A Closer Look at Cuphead

Now - Its aesthetic and theme is inspired by classic 1930s-era animation from Fleischer Studios, classic Disney and notably, Ub Iwerks (Mickey Mouse) and... | Promoted post
40°

Multiplayer Game Battle Of Balls Now Available On The App Store

1h ago - TTP:" If you’re into simple casual games, there’s a good chance you know about Battle Of Balls, a... | iPhone
40°

Tower Defense Game Tap Quest: Gate Keeper Now Available On The App Store

1h ago - TTP:" A really charming tower defense game is now available for download for free on the App Stor... | iPhone
30°

BioShock Infinite Funko Pops Slated for October; GameStop Gets Songbird Exclusive Pop

1h ago - EB: Funko Pop! Vinyl fans can look forward to securing a new line of BioShock Infinite Funko Pop... | Culture