Update: THQ

thq grace period

Recently THQ has Defaulted on a $50 million loan from the banks and now has 8 weeks to “satisfy” their debt in the terms of the loan there is a grace period which ends on Jan 15.

the CEO of THQ Brian Farrell had this to say:

“We are pleased to have reached an agreement with Wells Fargo. This agreement enables us to continue focusing on bringing our games in development to market.”

8 weeks isn’t a huge amount of time but hopefully somebody sweeps in at the last moment and snatches up THQ, hopefully its Ubisoft.

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