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The Weinstein Company Has Filed for Bankruptcy

Weinstein Co., the troubled movie company that failed in the wake of sexual harassment claims against co-founder Harvey Weinstein, filed for bankruptcy with plans to sell its entertainment assets.

Under a deal the company announced in a statement Monday, Weinstein will sell itself to an affiliate of Dallas-based Lantern Capital Partners.

The film studio, founded in 2005 by Weinstein and his brother Bob, sought protection in Wilmington, Delaware, listing as much as $1 billion in debt and $1 billion in assets. Weinstein was fired from the company, and has denied non-consensual sex.