The Weinstein Company says it expects to file for bankruptcy after talks to sell itself to an investor\u00a0group fell through over the weekend. A group led by former Obama administration official\u00a0Maria Contreras-Sweet and billionaire investor Ron Burkle had emerged as the most likely buyers for the now-infamous\u00a0production studio,\u00a0whose future has been in doubt since\u00a0co-founder and former board member\u00a0Harvey Weinstein\u00a0was forced out last year following\u00a0dozens of accusations\u00a0of sexual harassment and assault. (Weinstein denies all accusations of non-consensual sex.) Contreras-Sweet and\u00a0Burkle's\u00a0proposed deal was attractive to the company's\u00a0existing board, including co-founding brother Bob Weinstein, because it would have kept the studio intact\u2014likely under a new name\u2014and retained\u00a0its employees. But in\u00a0a Sunday\u00a0letter, the board accused the would-be investors\u00a0of failing to come through with funding to continue operations and fulfill\u00a0promises.\u00a0"Based on the events of the past week, however, we must conclude that your plan to buy this company was illusory and would only leave this Company hobbling toward its demise to the detriment of all constituents," the board wrote. "We will now pursue the Board\u2019s only viable option to maximize the Company\u2019s remaining value: an orderly bankruptcy process." The\u00a0already-delicate deal talks were\u00a0further compromised\u00a0two weeks ago,\u00a0when the New York attorney general's office filed suit against the Weinstein Company and the founding brothers, alleging years' worth of gender discrimination, sexual harassment, and sexual abuse. A sale of the company, the suit suggested, might\u00a0leave victims without recourse while\u00a0financially\u00a0benefiting\u00a0senior employees who allegedly failed\u00a0to investigate misconduct. The lawsuit implicated president and chief operating officer David Glasser, long seen as the Weinsteins' right-hand man. Contreras-Sweet had reportedly intended to hire\u00a0Glasser as CEO of the new company, but following the announcement of the AG's lawsuit, the Weinstein Company fired him\u00a0"for cause."