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.