THQ files for bankruptcy

Long time video games publisher THQ has officially filed for bankruptcy, according to multiple sources.

The company confirmed the sale themselves saying that much of the company's assets were sold to a "stalking horse bidder" who happen to be affiliates of the Clearlake Capital Group.

Marketwatch is reporting that THQ has filed for Chapter 11 of the US bankruptcy court for the District of Delaware.

Clearlake will serve as the interim bidder in the Section 363 sale with other parties able to make bids as well. Clearlake Capital Group has asked the courts for a 30 day sale process window.

We'll keep you updated on any further info.