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: