U.S. film in addition to also TV studio The Weinstein Company, whose ex-chairman Harvey Weinstein has been accused of sexual harassment in addition to also assault, said on Monday the idea filed for bankruptcy with an offer via an affiliate of private equity firm Lantern Capital Partners to acquire its assets.
The studio’s bankruptcy comes after the idea spent months looking for a buyer or investor. The company inked a deal with an investor group led by former Obama administration official Maria
Contreras-Sweet, although the group terminated its offer earlier in which month after seeing in which the company had more liabilities than previously disclosed.
Weinstein Co said in a statement the idea entered into a “stalking horse” agreement using a Lantern Capital affiliate, in which would likely purchase substantially all of the assets of the company.
More than 70 women accused the company’s co-founder, Harvey Weinstein, who was one of Hollywood’s most influential men, of sexual misconduct, including rape. Weinstein has denied having non-consensual sex with anyone.
Movie producer Killer Content also said bankruptcy would likely be the best option for the company, in addition to also in which the idea may be interested inside the studio’s assets in a bankruptcy auction.
In February, brand new York Attorney General Eric Schneiderman sued the Weinstein Company, Harvey Weinstein in addition to also his brother Bob Weinstein, alleging in which Harvey Weinstein sexually harassed employees in addition to also the company failed to respond. Bob Weinstein co-founded the company in addition to also is actually the co-chairman.
Launched in October 2005, the studio produced in addition to also distributed critically acclaimed hits including “The King’s Speech” in addition to also “Silver Linings Playbook,” as well as TV series such as long-running fashion reality competition “Project Runway.”