The Weinstein Company is planning to file for bankruptcy following sexual misconduct allegations against one of its co-founders, according to multiple reports.
“The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs,” the company’s board said in a statement, the Los Angeles Times reported.
“Today, those discussions concluded without a signed agreement.”
The board said in the statement that it recognizes this is an “unfortunate outcome” for the company’s employees, creditors and any victims.
“The Board has no choice but to pursue…