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THQ in Default on Credit Line

A THQ SEC Filing (Adobe Acrobat format) reveals more fiscal bad news for the publisher, following a a recent collapse of its stock. The filing reveals THQ is in default on a line of credit from Wells Fargo, leading to a delayed 10-Q filing, and a situation that sounds tenuous at best: "The Company is currently in discussions with Wells Fargo regarding the asserted defaults and believes that it will reach an agreement with Wells Fargo with respect to such defaults. Wells Fargo has continued to fund requests from the Company after September 30, 2012 while Wells Fargo and the Company attempt to reach an agreement. There can be no assurance, however, that the Company will achieve an agreement with Wells Fargo." Thanks nin via Kotaku/Polygon.

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36. Re: THQ in Default on Credit Line Nov 13, 2012, 06:13 Suppa7
 
If Nintendo was smart they would acquire THQ for darksiders and Saints row and fund them properly. They have all that Wii money. But given how braindead Nintendo is as a company I don't see it happening.

Theres lots of talent at THQ it's a tragedy the company was run by idiots.
 
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