Girls Gone Wild company goes bust, files for bankruptcy

The company behind the video empire, “Girls Gone Wild” has filed for Chapter 11 Bankruptcy.

Girl Gone Wild brands, which used to be owned by Joe Francis, says it filed bankruptcy due to more than $16 million in challenged claims.

The largest claim is more than $10 million from Wynn Resorts against Francis for alleged gambling debts and damaging statements he made.

Girl Gone Wild brands insists its financially strong but needs to restructure its legal affairs.

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