Hoonigan Files for Bankruptcy with a Massive $1.2 Billion in Debt

Backed by a team of enthusiasts, and buoyed by the racing and likable shenanigan content of the late Ken Block, Hoonigan rose to become one of the most popular brands in the last fifteen years. But in the last year, the company has gone through major changes, and yesterday Hoonigan filed for Chapter 11 bankruptcy, citing $1.2 billion in debt.