Wells Fargo has declared a THQ (THQI -3%) credit facility to be in a state of default, the...

|By:, SA News Editor

Wells Fargo has declared a THQ (THQI -3%) credit facility to be in a state of default, the deeply troubled game developer disclosed in its FQ2 10-Q. Wells considers THQ's current borrowings under the facility greater than what the company can support in its current financial situation. In response, THQ has repaid $5.6M of the $21.1M that was borrowed through the facility, and has entered discussions with Wells regarding the matter.