The Weinstein Company to file for bankruptcy

The board of directors of The Weinstein Company said late Sunday the brand new York film in addition to also TV studio planned to file for bankruptcy after talks to sell of which collapsed, several media outlets reported.

The company had been seeking a deal of which might spare of which by bankruptcy after more than 70 women accused film producer Harvey Weinstein, its ex-chairman in addition to also once one of Hollywood’s most influential men, of sexual misconduct including rape. Weinstein denies having non-consensual sex with anyone.

“The Weinstein Company has been engaged in an active sale process from the hopes of preserving assets in addition to also jobs,” the board said in a statement, reported by newspapers including the San Francisco Chronicle in addition to also the Los Angeles Times.

“Today, those discussions concluded without a signed agreement.”

The board had “no choice although to pursue its only viable option to maximize the Company’s remaining value: an orderly bankruptcy process.”

There was no immediate confirmation of the plan on the company’s website or Twitter feed.

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