TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

'Girls Gone Wild'

Goes Bankrupt

Seeks Chapter 11 Protection

2/28/2013 8:45 AM PST BY TMZ STAFF
breaking news

0228_joe_francis_ggw_tmz
"Girls Gone Wild" has gone bankrupt ... filing for Chapter 11 reorganization -- but fear not late night TV viewers ... 'GGW' honchos insist "it will be business as usual" for the porn company.

Lawyers for 'GGW' filed docs yesterday in U.S. Bankruptcy Court ... which gives the company protection from creditors while it comes up with a plan to handle all its debts.

According to the docs ... there are 3 subsidiaries of 'GGW' filing for Chapter 11 -- GGW Magazine, GGW Events, and GGW Direct.

In a statement, the company says it remains financially strong ... and throws other corporations under the bus ... claims it's just "like American Airlines and General Motors having sought reorganization under Chapter 11." 

As for GGW founder Joe Francis ... he assures us this has no affect on his personal wealth.

90 COMMENTS

No Avatar
1.

KittyKittyKitty    

Yikes!

511 days ago
2.

snowboardchick    

Could happen to a nicer guy.

511 days ago
3.

WD    

OH NO! Looks like someones going to have to sell his island!

511 days ago
4.

Nobody.Puts.Bieber.In.A.Corner    

This guy is a freaking moron.

511 days ago
5.

Tim    

I can't believe that college azz and teets aren't the money maker that they once were. That's a shame.

511 days ago
6.

@iAMTIMWILSON    

"protection from creditors while it comes up with a plan to handle all its debt' I'm sorry but I though all that azz shaking & girl on girl action was the plan.

511 days ago
7.

Lindsay Lohan Fan Forever    

Wish it was the founder who is s***.

511 days ago
8.

Kelly    

Just avoiding a bunch of bills, that's all. Haha creditors!

511 days ago
9.

Ashley     

i remember being on vacation with my girls and this sleezeball kept harassing us to be on that garbage,
sending people, then coming up to talk to us, and the answer was a big fat NO!
destroyed so many naive girls lives....
karma is a b!tch huh........
poor money management skills.......!!!

511 days ago
10.

Yup    

Such BULLSH*T dribbling out of ultra-douche Joe Francis's mouth. You don't seek legal protection via BK chapter 11 if your company is "financially strong"; it's for companies that are having financial difficulties. "Financially strong" companies that file BK have the BK dismissed without being protected; anyone who knows anything about business knows that...

511 days ago
11.

Horndog    

Somewhere Steve Wynn is laughing.

511 days ago
12.

Buz    

Has this anything to do with him being sued?

511 days ago
13.

Kimo    

Liar and a schmuck

511 days ago
14.

Ashley     

oh and i consider joe a low life thug pimp person..!!!
with all the opportunities in life you still turn out like this, ruining females lives and making money off it, and so many of your bros support you... but if asked im sure you will say you love and respect women, bla bla bla...typical garbage american white male.."you SUCK"!! so hypocritical of others and still the worst bunch of men..

511 days ago
15.

lareza    

THAT HAPPENS WHEN YOU ARE BESTIES WITH THE KARDASHIANS!!! HAHAHAAA
HE'S BEEN BEST FRIENDS WITH THE TRASHY FAMILY FOREVER EVEN BEFORE THE SEX TAPE ETC! THEY ARE ALL S***!!

511 days ago
| 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments

Around The Web