THQ was in bad shape in November of 2012, but that was nothing new.
The last time the company saw an annual profit was in the fiscal year ended March 31 of 2007. It had spent five and a half years since in an almost constant state of restructuring and laying off and reorganizing and laying off and re-focusing and laying off and re-focusing again and laying off and laying off and laying off and laying off and laying off and, when it could find the time, putting out big games that didn't live up to big sales expectations like Saints Row 2, Red Faction: Armageddon, and its UFC franchise.
Things were so clearly bad for the publisher for so long that in April of 2012, Take-Two CEO Strauss Zelnick publicly said THQ wouldn't even be around in six months. That was technically a Bad Call as THQ survived through October, but November made it clear that was more a stay of execution than a commutation of sentence.
source https://www.gamesindustry.biz/thqs-imminent-demise-becomes-clear-10-years-ago-this-month
