Weinstein Company to file for bankruptcy

The Weinstein Company is to file for bankruptcy after discussions to sell its assets to an investor group fell through.

The BBC reports that Directors at the New York studio, which created some of the highest grossing films, such as Inglourious Basterds, Django Unchained and The King’s Speech, said that bankruptcy was the only viable option.

According to several US news outlets, talks to sell its assets broke down two weeks ago, after New York Attorney General Eric Schneiderman filed a civil rights lawsuit against the Weinstein Company.

The civil rights lawsuit followed several allegations against co-Founder, Harvey Weinstein, regarding decades of sexual abuse and rape.