Harvey Weinstein's company set to file for bankruptcy
The Weinstein Co.’s board of directors says the company is expected
to file for bankruptcy protection after a last-ditch talks to sell its
assets collapsed.
This comes after disgraced movie mogul Harvey Weinstein who
co-founded the company in 2005 was fired last October after being
accused of sexual assault and harassment by dozens of women.
Weinstein Co. has been searching for a financial savior ever since.
Weinstein has denied all allegations but the Los Angeles Times reports
the board said Sunday night it has no choice but to pursue bankruptcy.
The decision came after the board was unable to revive a deal to sell
the struggling studio for about $500 million to an investor group. As
part of the pact, the bidders had promised to raise at least $40 million
for a fund to compensate Weinstein’s accusers.
No comments
Your comments and Encouragement are welcome