Harvey Weinstein’s company is bankrupting

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Harvey Weinstein’s company is set to file for bankruptcy because sexual assault allegations against him have damaged his reputation and decreased the selling.The disgraced Hollywood producer has been accused of sexual assault, harassment and misconduct by more than 50 women, prompting the creation of the #MeToo movement. His alleged victims include Cara Delevigne and Salma Hayek. The company, which Weinstein valued at $800m two years ago, has seen a last-ditch $500m deal fall through, according to The Guardian. According to the proposed terms of the deal, The Weinstein Company, which has backed films including Carol, Lion, The King’s Speech and Django Unchained, would have been renamed, with a new board consisting mostly of women. It would have also established a $40m fund to compensate Weinstein’s accusers. The company’s 130 remaining staff have now been left in limbo. The producer, who resigned from the board of the company he co-founded in October after being fired as its chief executive, is currently facing a class-action lawsuit in correspondence with sexual misconduct allegation.

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