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Harvey Weinstein’s company is set to file for bankruptcy

Josh Jackman February 26, 2018
US producer Harvey Weinstein poses as he arrives for the screening of the film "The Little Prince" at the 68th Cannes Film Festival in Cannes, southeastern France, on May 22, 2015. AFP PHOTO / LOIC VENANCE (Photo credit should read LOIC VENANCE/AFP/Getty Images)

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Harvey Weinstein’s company is set to file for bankruptcy because sexual assault allegations against him have made it impossible to sell.

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.

These alleged victims include Cara Delevingne, who said Weinstein tried to kiss her and told her she would never “make it as an actress in Hollywood” if she “was gay or decided to be with a woman especially in public”.

PASADENA, CA - JANUARY 06:  Executive producer Harvey Weinstein speaks onstage during War and Peace panel as part of the A+E Network portion of This is Cable 2016 Television Critics Association Press Tour at Langham Hotel on January 6, 2016 in Pasadena, California.  (Photo by Frederick M. Brown/Getty Images)
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Salma Hayek said Weinstein forced her to film an explicit lesbian sex scene in order to sexually humiliate her, a charge which he responded angrily to.

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 majority-female board.

Harvey Weinstein and Meryl Streep
(Photo by Kevin Winter/Getty Images)

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 over his alleged sexual abuse.

NEW YORK, NY - APRIL 28:  Film Producer Harvey Weinstein attends the "Reservoir Dogs" Screening during 2017 Tribeca Film Festival on April 28, 2017 in New York City.  (Photo by Jamie McCarthy/Getty Images for Tribeca Film Festival)
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Weinstein’s lawyers faced a backlash after trying to use actors Meryl Streep and Jennifer Lawrence as part of his defence.

They quoted Lawrence as saying Weinstein has “only ever been nice to me”, but excluded the next part of her statement, in which she said: “except for the moments that he wasn’t”.

Streep said that the way her words had been used was “pathetic and exploitative,” while Lawrence said her quotes had been taken “out of context,” which is “what predators do”.

Harvey Weinstein
(Alexandra Wyman/Getty Images For TWC)

A spokesperson for Weinstein has since apologised.

There are some who have actually defended Weinstein though, including singer Morrissey.

The British musician has twice spoken out in support of Weinstein and fellow alleged repeat sexual offender Kevin Spacey.

GLASTONBURY, ENGLAND - JUNE 24: Morrissey performs live on the pyramid stage during the Glastonbury Festival at Worthy Farm, Pilton on June 24, 2011 in Glastonbury, England. The festival, which started in 1970 has grown into Europe's largest music festival attracting more than 175,000 people over five days  (Photo by Ian Gavan/Getty Images)
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He has been joined by anti-trans activist Germaine Greer, who said that many of the survivors were not actually sexually assaulted, because their definition of consent was wrong.

“I want, I’ve always wanted, to see women react immediately,” she said.

“I want women to react here and now. I want the woman on a train who feels a man’s hand where it shouldn’t be … to be able to say quite clearly, ‘Stop.’”

More: business, films, Harvey Weinstein, Television, the weinstein company, US, US

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