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Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protection
Chicken Soup for the Soul Entertainment, the parent company of Redbox, has filed for Chapter 11 bankruptcy protection after accumulating nearly $1 billion in debt.
Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection. The filing also discloses that Chicken Soup for the Soul owes millions to over 500 creditors — which range from big names in the entertainment world like Sony Pictures and Warner Bros, to major retailers like Walgreens and Walmart. At the time, the company billed the merger as the start of an entertainment conglomerate set to reach consumers across mediums and boost revenue, but losses continued to pile up.
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