Weinstein Company Files for Bankruptcy
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After the horrific allegations levied against Harvey Weinstein lost him his job and his company, the Weinstein Company is filing for bankruptcy. No one was interested in buying their assets apparently.
Talks ended two weeks ago when the New York attorney general’s office filed a lawsuit against the once prolific company. Directors were quoted as saying that bankruptcy was the only option. Weinstein faces dozens of allegations from multiple actresses and industry members. These range from sexual abuse and blackmail to rape.
He still denies the accusations to this day.
The board said in a statement:
‘The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs.’
‘Today, those discussions concluded without a signed agreement.’
A lawyer for Weinstein said that a ‘fair investigation’ will show many of the allegations are false. The board of directors has said many of the allegations relating to them are ‘inaccurate’. The first allegations arose in October last year, with actresses like Kate Beckinsale and Salma Hayek sharing their stories.
While no criminal charges have been made, the allegations have sparked numerous actors and actresses to share their experiences with sexual harassment. Recently, movements like Time’s Up and #MeToo have been the topic of awards shows, empowering women to have a voice.