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NEW YORK (CBSMiami/AP) — The latest development in the downward spiral of a company that is named an accused rapist.

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The Weinstein Co. has filed for bankruptcy protection with a buyout offer in hand from a private equity firm, the latest twist in its efforts to survive the sexual misconduct scandal that brought down co-founder Harvey Weinstein.

The company also announced on Monday that it was releasing any victims of or witnesses to Weinstein’s alleged misconduct from any non-disclosure agreement that would prevent them from speaking out.

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In a statement, the company says it “expressly releases any confidentiality provision” to the extent that it has prevented anyone who “suffered or witnessed” any form of misconduct by Weinstein from telling their stories.

The Weinstein Co. says it has entered into a sale agreement with Lantern Capital Partners, subject to approval by the U.S. Bankruptcy Court in Delaware.

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(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)