The New York studio co-founded by disgraced film producer Harvey Weinstein is to file for bankruptcy after talks to sell its assets to an investor group collapsed, reports say. Weinstein has faced dozens of allegations of sexual misconduct over the past few months which has led to a number of wider movements in the film and music industry calling for an end to sexual harassment and misconduct.

Harvey WeinsteinHarvey Weinstein's company has filed for bankruptcy

Weinstein has also been accused of rape but denies non-consensual sex.

Talks to sell the assets of the Weinstein Company ended two weeks ago when the New York attorney general's office filed a lawsuit against it.

Directors were quoted as saying bankruptcy was the only viable option.

MORE: Harvey Weinstein Apologies For Citing Jennifer Lawrence And Meryl Streep In His Defence

"The Weinstein Company has been engaged in an active sale process in the hopes of preserving assets and jobs," the board said in a statement reported by several US newspapers, including the New York Times.

"Today, those discussions concluded without a signed agreement."

The statement said "an orderly bankruptcy process" was the "only viable option to maximise the company's remaining value".

The civil rights lawsuit against the company alleges that Mr Weinstein sexually harassed and abused women employed by the studio for years, as well as making verbal threats to kill staff members.

MORE: Harvey Weinstein Slapped By Man In Arizona Restaurant

It accuses senior executives at the company, including Mr Weinstein's brother Robert, of failing to prevent the mistreatment of staff despite being presented with evidence.

Weinstein has been accused of varying degrees of sexual misconduct from a number of famous actresses including Rose McGowan and Ashley Judd - who were two of the first actresses to speak out publically.

A slew of other famous Hollywood stars followed including Gwyneth Paltrow, Angelina Jolie, Cara Delevinge, Lea Seydoux, Rosanna Arquette and Mira Sorvino.

Daryl Hannah also revealed she repeatedly turned down Weinstein's advances during promotion for Kill Bill and its sequel.

He tried, she says, to get into her hotel room on multiple occasions, once getting a key and "burst[ing] in like a raging bull."

Salma Hayek said Weinstein sexually harassed and threatened her. And British Game of Thrones actress Lena Headey described an encounter with Harvey Weinstein that left her in tears and feeling "completely powerless".