Porn franchise `Girls Gone Wild` files for bankruptcy

USPA News - Softcore pornography company `Girls Gone Wild` filed for Chapter 11 bankruptcy protection this week in an effort to re-structure its legal affairs, listing more than $16 million in debts, according to court papers obtained on Thursday. Privately-owned GGW Brands, LLC filed for Chapter 11 bankruptcy on Wednesday in the U.S. Bankruptcy Court for the Central District of California.

It listed four disputed court judgments totaling more than $16.3 million combined and three other claims of an unknown amount which are pending. "Yesterday several of the U.S. operating entities for Girls Gone Wild joined the ranks of companies like American Airlines and General Motors having sought reorganization under Chapter 11 of the United States Bankruptcy code," the company said late Thursday in an e-mailed statement. "Girls Gone Wild remains strong as a company and strong financially." The bankruptcy filing is not expected to affect the domestic or international operations of the softcore pornography company, whose videos typically feature young women who expose their bodies or engage in sex acts with other women. "The only reason Girls Gone Wild has elected to file for this reorganization is to re-structure its frivolous and burdensome legal affairs," the statement said. The largest claim listed in the court papers is from Wynn Resorts casino owner Steve Wynn, who won a court case last year against `Girls Gone Wild` founder Joe Francis for defamation and emotional distress. A California jury ordered $40 million in damages for Wynn after Francis falsely claimed that Wynn threatened his life over a gambling debt. The second-largest claim is from Missouri woman Tamara Favazza who won $5.77 million in damages last year after she was featured dancing in the DVD `Sorority Girl Orgy 2`. She said she was dancing at a Missouri club, where signs were posted saying `Girls Gone Wild` camera crews were shooting there, when a contract worker for the company lifted her tank top, exposing her breasts. GGW Brands, which has sold millions of racy videos and DVDs since 1997, said in court papers that it has assets of less than $50,.000. "Just like American Airlines and General Motors, it will be business as usual for Girls Gone Wild," the softcore pornography company added in its statement.