Wilderness Experience sought a bankruptcy shield.
Chatsworth-based Wilderness Experience Inc. filed under Chapter 11 of the U.S. Bankruptcy Code. The sportswear firm said the action was necessary to gain protection against a lawsuit filed by the company’s bank to take possession of its assets, which secure its bank debt of $1.7 million. Bernard Kramer, president, said the company is developing a plan of reorganization that will allow the company to continue in business. The success of any such plan is dependent on the company’s ability to obtain financing from outside sources.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.