Harvey Weinstein’s production company is reportedly expected to file for bankruptcy after talks to sell the troubled company’s assets fell through.
Last October, the shamed movie mogul was fired from The Weinstein Company after he faced extensive sexual assault allegations from a multitude of women.
Now, it is expected that the board of The Weinstein Company will announce bankruptcy after a deal to sell it for $500m (£360m) to an investor group proved unsuccessful.
Weinstein originally founded the firm in 2005, alongside his brother Bob.
“The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs,” the board said in a statement.
“Today, those discussions concluded without a signed agreement.”
It was originally hoped that a potential sale would raise $40m to compensate Weinstein’s victims.
Meanwhile, Glengarry Green Ross playwright David Mamet recently revealed that he has written a play based on the accusations faced by Weinstein.
“In a new interview with the Chicago Tribune, Mamet said: “I was talking with my Broadway producer and he said, ‘Why don’t you write a play about Harvey Weinstein?’ And so I did”.
“While there are yet to be any official production details, Chicago Tribune’s Rick Kogan writes that “there has been great interest in the lead role expressed by a Chicago stage legend who is now a movie star.”