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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 of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection after months of financial struggles and piling unpaid bills. The Associated Press reports: Chicken Soup for the Soul has accumulated nearly $1 billion in debt, the Chapt...

Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection after months of financial struggles and piling unpaid bills. 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. "Redbox, founded in 2002, is best known for red-colored, self-serve machines that sit outside of pharmacies or groceries stores to rent or sell DVDs," notes the report.

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