THQ delays major releases as financial problems persist

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THQ’s troubles have not let up according to the company’s Q2 fiscal 2013 financial report. THQ has around $15 million in cash and equivalents after taking into account the $21 million it borrowed from creditors, and the $36.3 million it has overall. Furthermore, THQ has delayed key releases such as Metro: Last Light, South Park: The Stick of Truth and Company of Heroes 2.

Company of Heroes 2 and Metro: Last Light are expected to ship sometime in late March 2013, but South Park: And the Stick of Truth has moved to early fiscal 2014. That essentially means the game won’t be out until April 2013 at best. The original release date was March 5, 2013.

THQ president Jason Rubin outlined why the company delayed these games in the financial report.

“Our fourth quarter releases are the first titles that I have had the ability to materially impact, and experience told me that the games needed additional development time to be market-ready,” Rubin said.

In other disappointing news, Darksiders 2 has not sold as well as THQ had hoped. 1.4 million units of the game were shipped, which was lower than what THQ expected.

Source [THQ]

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