The Weinstein Company will file for bankruptcy following the collapse of sale talks with an investor group, according to US media.
The New York Times reported the film studio - co-founded by Harvey Weinstein - released a statement with the news late Sunday.
"While we recognize that this is an extremely unfortunate outcome for our employees, our creditors, and any victims, the board has no choice," the statement said.
The studio is expected to make the filing "in the coming days".
The New York Times said the Weinstein Company had been trying to finalise a deal for new investors to pay roughly $275 million for the studio, plus the assumption of $225 million in debt.
The deal encountered trouble earlier this month, when the state of New York sued Harvey Weinstein, his brother and their production company for failing to protect employees from years of his alleged sexual misconduct despite multiple complaints from staff.
"As alleged in our complaint, the Weinstein Company repeatedly broke New York law by failing to protect its employees from pervasive sexual harassment, intimidation and discrimination," said New York Attorney General Eric Schneiderman.
Harvey Weinstein resigned from the Weinstein Company's board in October 2017 following multiple allegations of sexual harassment.
There was no immediate confirmation of the plan on the company's website or Twitter feed.
Additional reporting: AFP
