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'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
16.

anony    

S***bag. His whole business and personal fortune should disappear overnight.

580 days ago
17.

OhReally    

Good his show..DVD's were str8 Garbage exploited young single crazi white girls whom most of them were doing it for cash but would try to keep them from being leaked as they got older to only realize their kids have seen the forbidden footage .. crazi females

580 days ago
18.

me    

Douche!!!

580 days ago
19.

en Todo Momento!!    

dud should just change his name to 'jhoe franchise'

580 days ago
20.

Jackie    

Karma son of a douche.

580 days ago
21.

TLM    

He is the biggest slimeball. LOSER!!!

580 days ago
22.

Leighton    

Running out of naieve, under-aged girls to get drunk and slip mickeys too? Or did Chris Hansen catch on to your game?

580 days ago
23.

The Real Victim    

Interesting Maneuver… thanks for turning the GGW business into an open book.


In the coming days, I'll expect TMZ to prominently display the following:
• Balance Sheet
• Statement of Operations
• Cash-Flow Statement
• Federal income tax return

580 days ago
24.

IndyMike    

Joe is a ***. Complete tool. A company filing for protection isn't strong. Probably bc he spends money like water. If love to bitch slap Joe.

580 days ago
25.

TehLivingDeath    

Didn't Joe Francis get sodomized at knife-point?

580 days ago
26.

Mrugowsky    

It's so hard to find cheap quality video of drunk chicks flashing their tacos. That IS what GGE is.

580 days ago
27.

hoffmanra    

Good.

580 days ago
28.

Tesla_Consulting    

"... no affect on his personal wealth. " Funny.

580 days ago
29.

DudeLebowski    

"...no AFFECT on his personal wealth." It's "effect" not "affect" you idiots. Can't TMZ afford a proofreader with a high school education? Obviously not....

580 days ago
30.

SDB    

Joe,call Obama for a bail out.lol

580 days ago
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