June 29, 2018 / 12:21 AM / 3 months ago

Weinstein Co warns liquidation looms in seeking lower sales price

Bankrupt film studio Weinstein Co is seeking court approval to cut its sales price by more than 7 percent to $287 million to settle disputes with its planned buyer, saying it needs to close its sale fast as it is nearly out of cash.

“Failure to close the sale would force the debtors into liquidation,” the studio said on Wednesday in a filing with the U.S. Bankruptcy Court in Delaware.

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