Tuesday, January 8, 2013

THQ Bankruptcy Sale Delayed

The bankruptcy sale of Agoura Hills-based videogame publisher THQ has been delayed until January 22nd, after a judge ruled yesterday that the delayed sale will allow other interested parties to bid for individual assets or the entire company. THQ also said that the court approved Clearlake Capital Group's bid for the entire company. The ruling came after the company's lenders and others who had complained that the original timeframe for THQ's bankruptcy sale was too short. THQ said the new date calls for all bids on the company to be received by January 22nd, with an auction held later that day for the company or its parts. THQ said it is being advised by Centerview Partners LLC, FTI Consulting, and Gibson, Dunn & Crutcher LLP in the bankruptcy. THQ was forced to declare bankruptcy on December 19th.

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