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The owner of Redbox has filed for Chapter 11 bankruptcy The owner of Redbox has filed for Chapter 11 bankruptcy
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The owner of Redbox has filed for Chapter 11 bankruptcy
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Old 30th June 2024, 11:34   #1
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Default The owner of Redbox has filed for Chapter 11 bankruptcy
Chicken Soup for the Soul Entertainment, which acquired the movie rental service Redbox in 2022, has filed for Chapter 11 bankruptcy protection, Deadline reports. The company recently disclosed net losses of $636.6 million for 2023 in a SEC filing, and Deadline reported just a few days ago that it had suspended medical benefits and missed payroll, leaving employees without their paychecks for a week already. In a message to employees on Saturday, Chicken Soup for the Soul Entertainment said it had applied for a debtor-in-possession loan in an attempt to remedy the situation.

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