Girls Gone Wild Has Gone Bankrupt

Despite the fact that scantily clad women being naughty can be found for free almost anywhere on the internet, some people are apparently still willing to pay for it.  Hence, the success of the video franchise "Girls Gone Wild."

The brainchild of Joe Francis, Girls Gone Wild has had to declare bankruptcy but not because horny dudes aren't willing to part with their money.

Apparently Mr. Francis has a $10 million debt he owes Las Vegas mogul Steve Wynn and the franchise.

Here is the official statement from G.G.W.:

"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. Girls Gone Wild remains strong as a company and strong financially. The only reason Girls Gone Wild has elected to file for this reorganization is to re-structure its frivolous and burdensome legal affairs. 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."