Weinstein%E2%80%99s+New+York+studio+files+for+bankruptcy
Monday, 26 February 2018 - 13:50
Weinstein’s New York studio files for bankruptcy
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The New York studio co-founded by disgraced film producer Harvey Weinstein is to file for bankruptcy after talks to sell its assets to an investor group collapsed.
 
Talks ended two weeks ago when the New York attorney general's office filed a lawsuit against the Weinstein Company.
 
Directors were quoted as saying bankruptcy was the only viable option.
 
Weinstein faces dozens of allegations of sexual abuse, including rape, but denies non-consensual sex.
 
"The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs," the board had said in a statement.
 
"Today, those discussions concluded without a signed agreement."
 
The statement said "an orderly bankruptcy process" was the "only viable option to maximize the company's remaining value".
 
The civil rights lawsuit against the company alleges that Weinstein sexually harassed and abused women employed by the studio for years, as well as making verbal threats to kill staff members.
 
It accuses senior executives at the company, including Weinstein's brother Robert, of failing to prevent the mistreatment of staff despite being presented with evidence.

(BBC)
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