Weinstein Company Is Near Bankruptcy

Credit: FameFlynet Pictures

The Weinstein Company is apparently seeking an “orderly bankruptcy process,” according to a letter to Maria Contreras-Sweet and Ron Burkle, both who are thinking of buying the company, reports Hollywood Reporter.

“While we deeply regret that your actions have led to this unfortunate outcome for our employees, our creditors and any victims, we will now pursue the Board’s only viable option to maximize the Company’s remaining value: an orderly bankruptcy process,” the letter to the bidders read.

Harvey Weinstein has been accused by over 50 women of sexual assault and harassment.