The New York-based film studio will file for bankruptcy after failing to secure funding from investors, according to a copy of a letter provided by the company on Sunday. The demise of the 13-year-old studio follows accusations by dozens of actresses of decades of sexual misconduct at the hands of Weinstein, setting off a movement that saw a string of similar revelations of bad behavior by prominent men.
Weinstein Co. blamed a group of investors led by Maria Contreras-Sweet, who ran the Small Business Administration from 2014 to 2017, for the collapse of a $500 million bid backed by billionaire Ron Burkle.