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THQ has filed for Chapter 11 bankruptcy, but its president Jason Rubin says it's not so much of an ending for the studio as a chance for a new beginning. Rubin explained the deal with private equity firm Clearlake Capital Group to fans, stressing the plan is for THQ as they know it to remain more or less the same.
Rubin expressed confidence in working with Clearlake Capital Group. While it's not a sure thing Clearlake will be the firm to purchase THQ, as the company's assets are open for bidding as part of Chapter 11 proceedings, the arrangements have been made.
"In fact, Clearlake is even providing the company the money it needs to keep working on the products as the process plays itself out," Rubin said. "And importantly, when the purchase is complete, Clearlake has committed to invest additional ample capital to let us finish the games we are making and continue making games going forward.
"In short, they are investing in a new start for our company."
Consumers often are not even aware of the effects Chapter 11 has on companies. Rubin pointed to American Airlines and MGM as current or former filers which are operating normally. It's of course in Rubin's interest to paint as positive a picture as possible of the deal, but he does a good job of making bankruptcy sound surprisingly peachy.
Rubin said the company's upcoming releases as well as future projects were unaffected, though Kotaku had a bizarre PR experience trying to confirm whether or not Darksiders developer Vigil's Warhammer 40,000: Dark Millenium still actually exists.
"Rest assured that the goal throughout the sale process has been to preserve our teams and our products," Rubin said. "In short, the teams will be unburdened by the past and able to focus on what they should be focusing on--Making great games."
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