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Old 11-10-2012, 11:22 PM   #1
randir14
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THQ in Trouble With Wells Fargo


The bad news keeps piling on THQ, as it's now revealed that they've defaulted on $50 million in credit with Wells Fargo.

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Troubled publisher THQ dropped more potentially bad financial news on Friday, revealing that it was in "certain defaults" on a $50 million credit facility with lender Wells Fargo.

The Agoura Hills based publisher of Darksiders, Saints Row and WWE wrestling games wouldn't clarify the conditions of the credit facility it has defaulted on, but did report "loan availability on the Credit Facility was less than 12.5% of the maximum revolver amount," a technical default of the terms of the loan. THQ tells Polygon that Wells Fargo continues to fund its requests while the two parties discuss the terms of their credit agreement.
Read more at Polygon
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Old 11-10-2012, 11:27 PM   #2
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As predicted...
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Old 11-11-2012, 12:52 AM   #3
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They'll repossess their backwards chair!
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Old 11-11-2012, 02:29 AM   #4
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Omg if this screws CoH2, I'll k**** a b**** out

:C
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Old 11-11-2012, 02:35 AM   #5
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Omg if this screws CoH2, I'll k**** a b**** out

:C
Personally I only care about South Park and Dawn of War 3. I wonder if DoW3 has already been cancelled since we haven't heard anything about it since it was first announced. There's also the Dark Millennium MMO that is being "retooled" into a single player game, I wonder what happened with that.
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Old 11-11-2012, 07:19 AM   #6
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This is like watching a plane crash in slow motion.
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Old 11-11-2012, 08:42 AM   #7
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Sad, THQ has made some good memories for me.
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Old 11-11-2012, 10:03 AM   #8
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It's one thing to see a crappy publisher slowly collapse; it's an entirely different matter to watch a publisher who gives us some legitimately awesome games slowly die.

I love their Warhammer 40k games. I love Darksiders. Hell, their WWE games were(and still are) fun. Company of Heroes has always been met with a decent level of critical acclaim.

Can't we sacrifice Activision instead of THQ to satisfy the dark gods?
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Old 11-11-2012, 10:07 AM   #9
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Obsidian might get to work on Project: Eternity full-time, then?
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Old 11-11-2012, 10:20 AM   #10
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I just don't understand why THQ can't make this work. They make good to decent games all the time. Maybe Nintendo can buy them and fix them up.

Mario! Bring THQ a mushroom, stat!
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Old 11-11-2012, 10:33 AM   #11
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Lets hope Relic finds a good home. This could be valve's chance to jump into the RTS market.
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Old 11-11-2012, 10:55 AM   #12
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Lets hope Relic finds a good home. This could be valve's chance to jump into the RTS market.
A Half-Life RTS? Sure, why not?
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Old 11-11-2012, 11:42 AM   #13
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I think this is going to happen to a lot of the publicly traded companies. Stockholders see 10+ million copies of one game ship and then the other company releases a good game that sells 1.5 million copies. Stockholders look at it a failure value of company goes down their ability to get funding for other projects then is reduced.

I have had more fun conistently from thq than many other publishers. Volition, relic and Virgil are great developers. This is such a shame for a good company to go through this. The companies are to partially blame themselves and us gamers are the others. For every copy of madden cod and halo someone needs to buy a copy of coh, dark siders or dawn of war.
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Old 11-11-2012, 11:45 AM   #14
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A Half-Life RTS? Sure, why not?
I was thinking more of a Portal tactical RTS x-com style.
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Old 11-11-2012, 11:50 AM   #15
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I decided to try and help them out today. I preordered a copy of Darksiders 2 for Wii U.
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Old 11-11-2012, 02:23 PM   #16
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I just don't understand why THQ can't make this work. They make good to decent games all the time. Maybe Nintendo can buy them and fix them up.

Mario! Bring THQ a mushroom, stat!
Nintendo probably wouldn't touch them. If they did they would have to take on their $100 million dollars of debt. Nintendo will just pick and choose from the talent at Vigil to further bulk up Retro since Retro has moved into a new and larger office.

Nintendo doesn't generally do acquisitions unless they feel the studio fills a gap that can't be filled by either a collaboration or second party relationship. And if the main talent will remain.
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Old 11-11-2012, 05:34 PM   #17
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It doesn't really matter. THQ is just a name, it's the devs who made it great if it ever was.

Thus, if management has screwed the pooch, it's not like the devs disappear. They get absorbed into other companies, or start their own new company, and carry on.
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Old 11-12-2012, 12:44 AM   #18
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It doesn't really matter. THQ is just a name, it's the devs who made it great if it ever was.

Thus, if management has screwed the pooch, it's not like the devs disappear. They get absorbed into other companies, or start their own new company, and carry on.
That might be true but, i would like to see DOW3, in with the current team from relic.
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Old 11-12-2012, 10:08 AM   #19
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It doesn't really matter. THQ is just a name, it's the devs who made it great if it ever was.

Thus, if management has screwed the pooch, it's not like the devs disappear. They get absorbed into other companies, or start their own new company, and carry on.
THQ is also the various brands and universes its devs have developed, unless those somehow get acquired by whoever picks those devs up in some firesale down the line. Which as I recall hardly ever happens. Not to mention the devs might get split up and could take years to reassemble, if ever.
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Old 11-12-2012, 10:26 AM   #20
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The brands would likely be sold off in order to pay for the debt if they go completely under as opposed to restructuring under bankruptcy protection. The problem is that doesn't mean a decent studio or publisher will pick them up, just that someone will.

As you already said, its very unlikely that the development team will go in one block anywhere. We'll probably see a couple working together here and there in the future, but its unlikely to see them all back together.

While it's easy to blame management, it's not always their fault. Being an outsider always seems to make it easier to say "well duh, they were just idiots" as opposed to "oh, I see why they did things that way as opposed to this way".
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