THQ's chief financial officer resigns, but it's not all gloom
THQ's previously reported financial difficulties continue with the resignation of CFO Paul Pucino, who leaves no named successor in the wings. However, there are some glimmers of light on the horizon for the troubled publisher, which reports that it's in negotiations with an unidentified financial sponsor (expected to result in a "significant and material dilution to shareholders").
It's also established a "forbearance agreement" with the bank Wells Fargo, which essentially allows THQ extra time to catch up on its debts - until January 15 in this case.
"This agreement enables us to continue focusing on bringing our games in development to market," said THQ's CEO Brian Farrell. "Meanwhile, we are evaluating financial alternatives that will transition the company into its next phase."
With Company of Heroes 2 looking very special indeed, and other promising titles like Metro: Last Light trundling toward release, we're keeping our fingers crossed that THQ manages to climb out of this financial hole.