All according to one of IGDA's leaders.

THQ was already living dangerously, basically applying EA's 2007-2008 strategy of making pretty cool games that don't sell well. The difference is that EA could afford to lose a couple of billions and managed to recover, while uDraw HD's thermonuclear bomb destroyed THQ's value on the market.

So it looks like they cancelled all 2014 games, have no money to hype even their 2012 releases, they abandoned all Disney IPs after paying the advances with no refund and are looking for buyers. They're fucked.

I wonder what happens with their studios and IPs. I suppose the only one that's safe is that new giant Montreal studio lead by Patrice Desilets.