Bankruptcy Bombshell: Redbox’s Owner Chicken Soup for the Soul Faces Financial Disaster, Misses Payroll and Owes Millions
Los Angeles, California – Chicken Soup for the Soul Entertainment, the owner of Redbox, has filed for bankruptcy protection. This follows a series of financial struggles for the DVD rental company, including loan defaults, car repossession orders, and missed payrolls for employees. The company notified employees of the filing through an email, explaining that they had applied for a debtor-in-possession loan to secure additional working capital. This loan would help meet payroll as the company …