The sales talk of the Weinstein Company failed, so the only option in front of the company is to pursue bankruptcy.
The Weinstein Company has refused a buyout from Maria Contreras-Sweet and Ron Burkle, who represented the group of investor who want to save the company form collapse by the deal of $500 million.
Weinstein co. is a largest mini-major film studio in north-America, founded by City by Bob and Harvey Weinstein in 2005. The company is currently in a state of turmoil following numerous sexual assault allegations filed against one of the Co-founder Harvey Weinstein.
Effects of allegations against Harvey Weinstein
In less than a month, one of the true behemoths of Hollywood experienced an extraordinary downfall, as in famous producer Harvey Weinstein was accused of multiple reports of rape, sexual assault and sexual harassment.
Harvey Weinstein had been fired from the company on October 8, 2017.
The downfall of the Weinstein Company cases can be seen since the company got the sexual harassment cases against Harvey Weinstein, many board of members had left the company in October 2017 due to sexual harassment cases against the Harvey Weinstein.