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LOS ANGELES — The planned sale of the Weinstein Company collapsed yet again on Tuesday, when the investor group that had agreed to purchase the embattled studio said that it had decided to call off the deal after it received “disappointing information.”
The investor group, led by Maria Contreras-Sweet, who ran the Small Business Administration under President Barack Obama, and the Weinstein Company’s board announced last week that an agreement to buy most of the assets of the near-bankrupt studio had finally been reached.
But the buyers discovered that the Weinstein Company had more debt than they had been led to believe once they began confirmatory diligence on the deal, according to two people briefed on the matter, who spoke on the condition of anonymity to discuss confidential information. The buyers had expected debt of roughly $225 million; additional debt of $55 million to $65 million was discovered, including $27 million in unpaid residuals.
A spokeswoman for the Weinstein Company had no immediate comment. Ms. Contreras-Sweet declined to discuss the decision beyond a statement issued by the investor group.
“I believe that our vision to create a women-led film studio is still the correct course of action,” Ms. Contreras-Sweet said in her statement. “To that end, we will consider acquiring assets that may become available in the event of bankruptcy proceedings, as well as other opportunities that may become available in the entertainment industry.”
The Weinstein Company has been struggling to remain afloat since October, when The New York Times and The New Yorker magazine disclosed decades of sexual harassment allegations against the company’s co-owner Harvey Weinstein. Mr. Weinstein has denied engaging in “non-consensual sex.”
The investor group, which includes the billionaire Ron Burkle, appeared to be closing in on a deal for the Weinstein Company once before, but talks broke off after Eric T. Schneiderman, the New York attorney general, expressed concerns.
But Mr. Schneiderman hosted a meeting between the two sides on Thursday that helped reach an agreement. Mr. Schneiderman did so after the buyers and sellers had committed to terms that he deemed paramount: adequately compensating victims, protecting employees and ensuring that those who enabled or perpetuated Mr. Weinstein’s conduct would not be rewarded.
Mr. Schneiderman sued the company, Harvey Weinstein and his brother Bob Weinstein on Feb. 11, alleging that they had violated state and city laws barring gender discrimination, sexual harassment and coercion.
Amy Spitalnick, the press secretary for the attorney general, said that Mr. Schneiderman’s lawsuit against the Weinstein Company and the Weinstein brothers remained active and an investigation into wrongdoings at the studio was ongoing.
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