wbmldr command fails to start with error java.lang.OutOfMemoryError: GC overhead limit exceeded in Windchill Bulk Migrator

• wbmldr command fails to start with error java.lang.OutOfMemoryError: GC overhead limit exceeded
• wbmldr.log reports following error message:
  ERROR wbmldr.WbmldrImpl                                 - An exception occurred when initializing the model.
  com.ptc.wbm.worm.util.WormError: An exception occurred when initializing the model.
      at com.ptc.wbm.worm.core.WormModelAdapter$_WormModelAdapter.<clinit>(WormModelAdapter.java:1111)
      at com.ptc.wbm.worm.core.WormModelAdapter.getInstance(WormModelAdapter.java:1130)
      at com.ptc.wbm.worm.query.WQDataModel.initiInstance(WQDataModel.java:59)
      at com.ptc.wbm.worm.query.WQDataModel.init(WQDataModel.java:44)
      at com.ptc.wbm.wbmldr.WbmldrImpl.implement(WbmldrImpl.java:87)
      at com.ptc.wbm.wbmldr.WbmldrImpl.main(WbmldrImpl.java:80)
  Caused by: com.ptc.wbm.worm.util.WormException: An exception occurred when de-serializing WORM metadata.
      at com.ptc.wbm.worm.core.WormModelAdapter.deSerialize(WormModelAdapter.java:1243)
      at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1200)
      at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1191)
      at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1167)
      at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1148)
      at com.ptc.wbm.worm.core.WormModelAdapter$_WormModelAdapter.<clinit>(WormModelAdapter.java:1109)
      ... 5 more
  Caused by: java.lang.OutOfMemoryError: GC overhead limit exceeded
      at java.io.ObjectStreamClass.newInstance(ObjectStreamClass.java:967)
      at java.io.ObjectInputStream.readOrdinaryObject(ObjectInputStream.java:1782)
      at java.io.ObjectInputStream.readObject0(ObjectInputStream.java:1350)
      at java.io.ObjectInputStream.readObject(ObjectInputStream.java:370)
      at java.util.HashMap.readObject(HashMap.java:1180)
      at sun.reflect.GeneratedMethodAccessor1.invoke(Unknown Source)
   
• wbmldr.sh -s WTDocumentMaster command fails with below error:

ERROR wbmldr.WbmldrImpl             - An exception occurred when initializing the model.
com.ptc.wbm.worm.util.WormError: An exception occurred when initializing the model.
    at com.ptc.wbm.worm.core.WormModelAdapter$_WormModelAdapter.<clinit>(WormModelAdapter.java:1144) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter.getInstance(WormModelAdapter.java:1163) ~[wbm.jar:?]
    at com.ptc.wbm.worm.query.WQDataModel.initiInstance(WQDataModel.java:59) ~[wbm.jar:?]
    at com.ptc.wbm.worm.query.WQDataModel.init(WQDataModel.java:44) ~[wbm.jar:?]
    at com.ptc.wbm.wbmldr.WbmldrImpl.implement(WbmldrImpl.java:88) ~[wbm.jar:?]
    at com.ptc.wbm.wbmldr.WbmldrImpl.main(WbmldrImpl.java:80) ~[wbm.jar:?]
Caused by: com.ptc.wbm.worm.util.WormException: An exception occurred when de-serializing WORM metadata.
    at com.ptc.wbm.worm.core.WormModelAdapter.deSerialize(WormModelAdapter.java:1276) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1233) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1224) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1200) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter.newWormModelAdapter(WormModelAdapter.java:1181) ~[wbm.jar:?]
    at com.ptc.wbm.worm.core.WormModelAdapter$_WormModelAdapter.<clinit>(WormModelAdapter.java:1142) ~[wbm.jar:?]
    ... 5 more
Caused by: java.lang.OutOfMemoryError: Java heap space
    at java.io.ObjectInputStream$HandleTable.grow(ObjectInputStream.java:4095) ~[?:?]
    at java.io.ObjectInputStream$HandleTable.assign(ObjectInputStream.java:3900) ~[?:?]
    at java.io.ObjectInputStream.readOrdinaryObject(ObjectInputStream.java:2219) ~[?:?]
    at java.io.ObjectInputStream.readObject0(ObjectInputStream.java:1687) ~[?:?]
    at java.io.ObjectInputStream.defaultReadFields(ObjectInputStream.java:2496) ~[?:?]
    at java.io.ObjectInputStream.readSerialData(ObjectInputStream.java:2390) ~[?:?]