Volition Up For Auction in Parent Company Asset Sale
By Jim Meadows
8 AM Central time Tuesday morning was the deadline for bids to be received on the sale of assets by the parent company of Champaign video-game designer Volition.
THQ Incorporated filed for Chapter 11 bankruptcy in December. The company is hoping to sell its assets to the private equity firm, Clearlake Capital Group. But other companies had until Tuesday morning to file their own bids.
THQ’s Volition studio could be one of the assets in play, due to its success in designing the “Saints Row” and “Red Faction” game franchises.
A hearing on the THQ sale is set for Wednesday morning in Wilmington, Delaware, with the sale closing occurring on Thursday.