The New York studio co-founded by disgraced film producer Harvey Weinstein is to file for bankruptcy after talks to sell its assets to an investor group collapsed.
Talks ended two weeks ago when the New York attorney general’s office filed a lawsuit against the Weinstein Company.
The board of directors said bankruptcy was the only viable option.
Mr Weinstein faces dozens of allegations of sexual abuse, including rape, but denies non-consensual sex.
Source: BBC
