We have reported a few days ago about the closure of five THQ development studios and now everything is official. And a bit worse than we were anticipating, to be honest: the company made public its latest financial reports and things look really bad: $115 million lost in the second quarter. Big money!

Following these results, the company decided to close the aforementioned five development studios and fire about 250 staff members. The company has also canned various work in progress and unannounced titles we’ll probably never hear about.

Also, THW has announced that Darksiders: Wrath of War and the highly anticipated Red Faction: Guerrilla, initially scheduled to be released by April, are now expected to be released sometime before March 2010. Not really good news for us!

However, even though it would appear that THQ is not really ready for further investments at the moment, reality is somewhat different: the company plans to expand into Asia, opening a new office in Shanghai and releasing two MMOs for the Asian Market. Hopefully that will turn things around.