The female-led investor group that had agreed to buy The Weinstein Company's assets has withdrawn its offer.
Lead investor Maria Contreras-Sweet said the decision was made after the group "received disappointing information."
Two sources familiar with the matter told Reuters that the investor group pulled the offer after discovering the Hollywood studio's liabilities were higher than previously disclosed.
The Weinstein Company board said it would keep working to "determine if they are any viable options outside of bankruptcy."
Ms Contreras-Sweet, a former official in former US president Barack Obama’s administration, said she still believed in the vision of a studio led by women and will consider buying assets if they become available in bankruptcy court.
More than 70 women accused The Weinstein Company co-founder Harvey Weinstein, who was one of Hollywood's most influential men, of sexual misconduct, including rape.
Mr Weinstein has denied having non-consensual sex with anyone.
The Weinstein Company, which fired Harvey Weinstein in October, had been planning to file for bankruptcy when Ms Contreras-Sweet struck the deal last week.
The investors found that the company's debt was $280 million rather than the $225m previously disclosed, one of the sources told Reuters.
A second person said that there were previously undisclosed obligations for royalties and other outstanding work payments, accounts payable and a commercial arbitration award.