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Weinstein Company files for bankruptcy

ANI | Updated: Mar 20, 2018 16:06 IST

London [United Kingdom] Mar 20 (ANI): The Weinstein Company filed for bankruptcy after a wave of sexual misconduct allegations against the company's founder Harvey Weinstein.

The company, on Monday, announced it has entered into a stalking horse agreement with Lantern Capital Partners out of Dallas. As part of its bankruptcy protection filing, Lantern allegedly agreed to purchase The Weinstein Co. if the court approves.

As TMZ reported, the company started falling apart in October after several women including some Hollywood A-Listers came forward with sexual misconduct allegations against Harvey Weinstein.

The allegations against Weinstein gave birth to the #MeToo and #TimesUpmovements.

Weinstein has not yet been officially charged despite being the target of several criminal investigations across the country.

The producer has been in Arizona getting treatment for a sex addiction. (ANI)