Yesterday, a report from website Nintendo Europe announced that an “insider source” announced them that THQ’s staff has been informed about the closure of the company. However, it was very soon proved wrong – THQ announced that it’s not closing its doors but it does plan a restructuring of their wireless subsidiary in Europe.

Contacting Videogamer, a THQ representative wrote: “Today, we advised our staff of a restructuring of our wireless subsidiary in Europe. That’s all that has happened. The remainder of the Woking based THQ operation were unaffected by this restructure in the wireless subsidiary.”

It would’ve been quite strange to hear about THQ’s closure since the company has two big titles scheduled for release later this year (Dawn of War II and 50 Cent: Blood on the Sand), plus their already classic wrestling simulations. They have also released Saints Row which recorded decent sales, and an upcoming PC version is scheduled to hit Europe in February. So, in other words: they have no reason to close their doors.