THQ was an American video game developer and publisher. Founded in 1989, the company developed products for home video game consoles and handhelds, personal computers and mobile devices. Its name derived from "Toy Headquarters" during its time as a toy manufacturer in the early 1990s. THQ had offices in North America, Europe and the Asia-Pacific region. After years of financial struggles, stock value drop, and debt, THQ declared Chapter 11 bankruptcy in December 2012 and began liquidation of its assets the following month, with several properties either being acquired or auctioned to other developers. In addition, most of the remaining staff were laid off. In 2014, the THQ trademark was acquired by Nordic Games, which had acquired some of THQ's properties in the auction. It renamed itself THQ Nordic in August 2016.