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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Re: THQ in Defaults on Credit Line
Nov 13, 2012, 03:38
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Re: THQ in Defaults on Credit Line Nov 13, 2012, 03:38
Nov 13, 2012, 03:38
 
Dev wrote on Nov 12, 2012, 06:33:
And failing to keep enough interest in running the servers properly to avoid the storefront having problems in a big sale

That's what makes it most fun: "I have to check it within first 3 minutes or sales will dissapear or something".
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