Game company THQ hasn't had the best of luck lately, with a refocused strategy, layoffs, delays for certain titles, and even a cancellation. There has been some good news though, like the recent THQ Humble Bundle that broke $2 million in one day, but still things could be better. Today's news certainly falls on the negative side, but there is a silver lining to it all. THQ has filed for Chapter 11 bankruptcy in order to "shed certain legacy obligations and emerge with the strong financial backing of a new owner with substantial experience in software and technology." It sounds kind of bad, but the good thing is the company can continue to operate while the Chapter 11 and sale proceedings are going on.
Furthermore, all the studios are staying open and development teams kept intact, along with all announced games. We'll still be getting Metro: Last Light, Company of Heroes 2, South Park: The Stick of Truth, and the like, just eventually THQ will have a new owner.