Parent Company of Redbox DVD Kiosks Files for Bankruptcy

Published on July 1, 2024

The parent company of Redbox has filed bankruptcy, nearly two years after its ill-fated merger with the deeply indebted DVD kiosk operator. Chicken Soup for the Soul Entertainment, which gets its name from the best-selling self-help book series, on June 28 filed for Chapter 11 protection in Delaware, listing assets and liabilities of at least $500 million each. The filing allows Chicken Soup to keep operating while it develops a plan to repay its creditors, the largest of whom include retail giants Walgreens and Walmart—where it operated thousands of Redbox kiosks—as well as major Hollywood studios such as Universal, Sony, Lionsgate, Warner Bros, and Paramount. Court document shows that the company also owes money to its landlord, car vendor, and other business partners....

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