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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

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Previous 15 Comments | 1 | 2 | 3 | 4 | 5
61.

emperormacnut    

What a douche. He also treats his employees like **** and illegally wipes their personal cell phones remotely after laying them off, that's what 3 years of giving 3 years of loyal service will get ya....

512 days ago
62.

emperormacnut    

Oh and if he was financially secure, he wouldn't be out two jets and now both his buses.

512 days ago
63.

Mrugowsky    

He had an unsuccessful business model.

512 days ago
64.

eivissa    

I have read over and over he has ruined young girls lives.
There is another guy just like him. The one that has that site Dirty something.... Girls get hurt there too.
Dont get drunk anymore girls. Shame no one cant have innocent fun on Spring Break anymore without predator punks like these guys.....
~
And this is a really bad picture of him.

512 days ago
65.

teedofftaxpayer    

Just another way the rich gets out of paying their bills. The Donald does it, the Vatican does it, big companies do it all the time to avoid paying off their responsibilities.

512 days ago
66.

JWalker    

Yeah, you can check out young willing to exploit themselves for free on any number of sites out there nowadays, so his business model isn't what it used to be.

511 days ago
67.

Diamond Goddess!    

He's just trying to avoid paying Steve Wynn.
(Yeah...GRRRRRREAT idea!!!)
lols

511 days ago
68.

Sunset    

What a ****!

511 days ago
69.

Jo    

Avoiding paying his bills is allies doing he is a s***bag mother ****er after all. I'd like something bad to happen to him.

511 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5

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