The Weinstein Company set to declare bankruptcy
- 6 years ago
Well after the scandal it looks as though The Weinstein Company is headed for bankruptcy after talks to sell the business recently collapsed.
The world-famous film studio - which was co-founded by disgraced movie producer Harvey Weinstein – has said in a statement that the company has been engaged in an active sale process in the hopes of preserving assets and jobs.
The board of the studio had been trying to sell to a consortium headed by Maria Conteras-Sweet in a deal worth around $500 million that would have seen a new, largely-female board take control.
However, negotiations collapsed earlier this month when the New York attorney general's office filed a civil rights lawsuit against the firm and its co-founders over the allegations of sexual misconduct, accusing them of "repeatedly" breaking the city's laws by "failing to protect employees from pervasive sexual harassment, intimidation and discrimination."
The world-famous film studio - which was co-founded by disgraced movie producer Harvey Weinstein – has said in a statement that the company has been engaged in an active sale process in the hopes of preserving assets and jobs.
The board of the studio had been trying to sell to a consortium headed by Maria Conteras-Sweet in a deal worth around $500 million that would have seen a new, largely-female board take control.
However, negotiations collapsed earlier this month when the New York attorney general's office filed a civil rights lawsuit against the firm and its co-founders over the allegations of sexual misconduct, accusing them of "repeatedly" breaking the city's laws by "failing to protect employees from pervasive sexual harassment, intimidation and discrimination."