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Weinstein Co. to file for bankruptcy after deal collapses [Business News Network (BNN) Energy & Resources (Canada)]

WYNN RESORTS (WYNN)  More Company Research Source: Business News Network
Last wynn resorts earnings: 8/1 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: wynnresorts.com
PDF Weinstein Co. to file for bankruptcy after deal collapses The global #MeToo movement that Harvey Weinstein unwittingly kicked off is now claiming the company he founded, the Weinstein Co. The Los Angeles-based film studio will file for bankruptcy after failing to secure funding from investors, according to a copy of a letter provided by the company on Sunday. The demise of the 13-year-old studio follows accusations by dozens of actresses of decades of sexual misconduct at the hands of Weinstein, setting off a movement that saw a string of similar revelations of bad behavior by prominent men. Weinstein Co. blamed a group of investors led by Maria Contreras-Sweet, who ran the Small Business Administration from 2014 to 2017, for the collapse of a US$500 million bid backed by billionaire Ron Burkle. “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 t [Read more]

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