THQ has gone bankrupt and NASDAQ has already delisted it from the stock exchange.
The company has also not appealed at the decision of NASDAQ which shows that the THQ staff indeed want to be delisted, and their assets are currently for sale, with a lot of parties like Clearlake, EA and Double Fine showing interest in them.
The company also has a lot of debt which is also one of the reasons for the bankruptcy filing. THQ owed $45 million to WWE itself, which kind of shows the state they were in.
“Based on review of information provided by the company, Nasdaq Staff determined that the company no longer qualified for listing on the Exchange pursuant to Listing Rules 5101, 5110(b), and IM-5101-1,” the filing reads.
“The company was notified of the Staffs determination on December 19. The Company did not appeal the Staff determination to the Hearings Panel, and the Staff determination to delist the Company became final on December 28.”
THQ claims it will be operating as normal but the situation has become a bit complicated due to the limited resistance the company offered to Clearlake for the takeover.