Entertainment

Bankruptcy For The Weinstein Company Is Reportedly Inevitable

REUTERS/Mike Blake

David Hookstead Sports And Entertainment Editor
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The Weinstein Company is reportedly on the brink of bankruptcy, and there’s nothing that can be done to stop it.

TMZ broke the news Wednesday that TWC was going to financially collapse following all the horrific allegations against Harvey Weinstein.

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They reported the following:

As one informed source put it, “There’s an unstoppable meltdown and bankruptcy is inevitable.” Our sources say the company is essentially without assets. TWC is leveraged to the hilt, especially the film library. Deals have fallen apart, financial backers are bailing by the boatload and, as one source put it, “The Weinstein Company can’t survive this way, and bankruptcy will come in a matter of weeks.”

Bankruptcy will stave off creditors, but it ultimately won’t help with survival …this according to the sources who have seen the books.  We’re told Colony Capital, which was on the road to acquiring the company, is backing off after getting a read on the finances and the chaos within the company.

TMZ cited another source who claims the bankruptcy claims are bogus, so we’ll all have to wait and see what happens.

I rarely advocate for people to fail, but TWC absolutely deserves to go down the drain if even a fraction of the allegations from women against Harvey are true. I believe that’s called karma. A man who runs around Hollywood allegedly terrorizing women absolutely deserves everything coming his way. And the company that may have shielded his behavior or knew about it, also deserves the worst.

Absolutely no justifiable reason can be found to keep these people in business if it turns out they knew anything or participated in any cover ups. As for for Harvey? Well, I think we all know he deserves justice if the allegations are true.

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