Harvey Weinstein’s company expected to file for bankruptcy
Harvey Weinstein’s company is allegedly expected to file for bankruptcy after talks to sell its assets have failed.
Last October, the disgraced movie producer, who co-founded The Weinstein Company with his brother in 2005, was fired from it after facing extensive sexual assault allegations from a host of women. He has denied all of the allegations.
However, it's reported that The Weinstein Company has no option now but to announce bankruptcy after a deal to sell the production firm for $500m (£360m) to an investor group fell through.
The following statement was issued last night (February 25) by the board: “The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs.
“Today, those discussions concluded without a signed agreement.”
It was originally hoped that a potential sale would raise $40m to compensate Weinstein’s victims.
Watch relevant videos of the movie mogul's downfall, below:
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