THQ lives to fight another day
Troubled publisher THQ and Wells Fargo have come to an agreement which gives THQ a delay in having to pay the latter $50 million of outstanding credit. Next to that, Wells Fargo has agreed to give further loans to the company until the agreement runs out, which is January 15th next year.
THQ in the meantime has announced they’ve “entered into exclusive negotiations with a financial sponsor regarding financing alternatives” and as there’s always someone who has to get the blame, THQ’s Chief Financial Officer, Paul Pucino, has “resigned”.
No news who is in talks with THQ regarding that financing alternative or what this is supposed to be. THQ did state clearly that an agreement isn’t secured yet so the publisher may very well end up bankrupt next year.