The former company of film producer Harvey Weinstein wants to apply for bankruptcy. That announced Weinstein Company (TWC) after a planned sale of company had failed. "Although we see that this is an extremely unfortunate end for our employees, our creditors and any victims, board has no choice but to go only way that maximises residual value of company: a regulated bankruptcy," quoted Los Angeles Times from a statement of company.

BREAKING: Weinstein Co. will file for bankruptcy after sale effort ends in failure. Statement from company: Pic.twitter.com/J0NdI5dmeX

— Daniel Miller (@DanielNMiller) February 26th, 2018

Previously, an attempt was made to sell studio to an investor group for just under half a billion dollars. The bidders also promised to provide at least 40 million dollars to compensate women who accuse Weinstein of assaults and rapes, reports LA Times. On 11 February, New York State Prosecutor's Office n initiated a lawsuit against Weinstein Company, Harvey and Robert Weinstein for "egregious violations" of fundamental rights, human rights and labour law. The investors n withdrew ir offer.

Six women had filed a lawsuit toger. They accuse Weinstein and his former film company of having hushed up sexual harassment and attacks. When allegations had become known in autumn, studio had released Weinstein. The MeToo debate is a consequence of accusations against producer. Weinstein rejects all accusations. He had founded film studio 2005 with his bror.

Date Of Update: 27 February 2018, 12:03