Though really, everyone was expecting this to happen anyway, though much, much sooner. Among their problems, they owe WWE $45 million as per their multi-year agreement (whatever that is... or was). Vince... is obviously none too happy.
So weird that they filed for bankruptcy. They have a lot of successful franchises. Those WWE games alone sell millions of copies a year, Saint's Row the Third was extremely successful, as were the others in the series. Red faction did alright, as did Company of Heroes.
Sucks for the people involved with THQ, but I am glad that they won't be making terrible wrestling games now.
Shut Your Mouth
Here Comes The Pain
Those were a ll good/great games but the shit fest was 07-12 really hurt their wrestling legacy because too many half assed sequels made a lot of fans turn away, however if it wasn't for the WWE brand they would've went out of business a long time ago.