After months of scandals, lawsuits, and more, The Weinstein Co. has hit its breaking point…
TMZ is reporting that the company is filing for bankruptcy.
According to the Board of Directors, there was no other choice. Following the massive amount of allegations against Harvey Weinstein, the company quickly lost money, assets, and investors.
Although a few thought about taking over the company last year, all deals fell through. Even Colony Capital’s Tom Barrack, who was considering buying the company back in October, realized there was no upside.
And it’s not really surprising why: on top of all the other issues the company was facing, they’re also now dealing with a series of lawsuits that claim top executives at The Weinstein Co. knew about Harvey Weinstein’s alleged sexual harassment and did nothing about it.
While this is likely the end for the film company, it’s still not known what will happen to Harvey himself. With multiple lawsuits currently filed against him, we will just have to wait and see what happens down the road.
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