‘Girls Gone Wild’ Files For Bankruptcy, The company responsible for producing the Girls Gone Wild line of videos has filed for bankruptcy.
The filing is reportedly an effort to protect the company from the $10.3 million debt the founder owes to Wynn Las Vegas LLC. According to Bloomberg, the bankruptcy will also help out with the $5.8 million lawsuit the company lost against a woman who said producers used her images without consent. Reported Inquisitr...
The company said in a statement:
“This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations. Just like American Airlines and General Motors, it will be business as usual for ‘Girls Gone Wild.’ “
Girls Gone Wild mastermind Joe Francis reportedly placed GGW Direct LLC, GGW Brands LLC, GGW Events LLC, and GGW Magazine LLC under Chapter 11 protection on Wednesday.
Fox News explains that Steve Wynn’s casino has been after Francis for several years after he accrued a sizable $2 million gambling debt. To make matters worse for Francis, a judge award Wynn $7.5 million for comments he made about Wynn’s resort.
The hotel owner said after the judgment was handed down:
“Thank God for the justice system that finally sent a message: If you think you’re taking a cheap shot, it may be a lot more expensive than you had imagined. Therefore, think before you post; think before you speak; hesitate before you start to destroy someone’s character. There may be a day of reckoning.”
The Girl Gone Wild empire was launched by Joe Francis back in 1997. Thanks to the power of 30-minute infomercials aimed at the late night viewing crowd, the company quickly became a huge success. In 2001, roughly 4.5 million videos from the series were sold.
The company has also faced a number of lawsuits from girls who felt they were exploited by Girls Gone Wild and members of its crew.
Representatives from the company have refused to comment on the matter as of this writing. What do you think about Girls Gone Wild filing for bankruptcy?
