Publisher THQ files for bankruptcy

Troubled publisher THQ has announced it has filed for bankruptcy, with plans to sell off assets for $60million USD.

The company will now move forward under the ownership of Clearlake Capital Group and all games in development - including South Park: The Stick of Truth and Metro: Last Light - will still launch as planned.

THQ intends to keep all employees on board and working to their usual schedules despite the filing.

"The sale and filing are necessary next steps to complete THQ's transformation and position the company for the future, as we remain confident in our existing pipeline of games, the strength of our studios and THQ's deep bench of talent," claimed THQ CEO Brian Farrell.

THQ president and former Naughty Dog producer, Jason Rubin, said: "We have incredible, creative talent here at THQ. We look forward to partnering with experienced investors for a new start as we will continue to use our intellectual property assets to develop high-quality core games, create new franchise titles, and drive demand through both traditional and digital channels."

The THQ bankruptcy document revealed four unannounced games that the publisher has plans for.

Crawler is the codename given to a title in development at Darksiders creator Vigil Games, while Turtle Rock Studios is working on a project called Evolve.

THQ Montreal is developing a game called 1666 and Relic Entertainment is making a title with the codename Atlas.

The document also revealed that Saints Row 4 is set for a release sometime in 2013.