The Rise of Nations developer will face oblivion if a buyer isn't found to snap up the team quickly, with current projects presumably in limbo for now.
Two other studios have already been "spun out" as indie developers as part of THQ's "targeted cost reductions" of $220 million; Heavy Iron Studios and Incinerator Studios.
"THQ informed the staff at its Big Huge Games studio in Timonium, MD, that it plans to close the studio if a sale is not completed in the near future," THQ told . "These actions were unfortunate but were necessitated by the difficult economic environment."
The company also said they "notified the staff at two of its development studios that they will be spun out as independent companies: Heavy Iron in Los Angeles, CA, and Incinerator in Carlsbad, CA."
Big Huge Games is, or was, working on two unannounced projects with the first an RPG scheduled for this year on PC, Xbox 360 and PS3 with the other a Nintendo Wii title.