Redbox Parent Company Files for Bankruptcy – Notice Today Internet

Chicken Soup for the Soul Entertainment, the parent consort of Redbox, filed for Chapter 11 insolvency endorsement on Friday, according to suite writing and media reports. In the filing, the consort reportable debts of at small $970 meg and assets of $414 million.

The filing also indicated the consort owes jillions to Universal Studios ($16.7 million), Sony Pictures Home Entertainment ($9.1 million), Lionsgate ($4.6 million) and BBC Studios Americas ($9 million) as substantially as to Walgreens ($5 million) and Walmart ($4.1 million). In 2023, the consort reportable a gain income expiration of $636 million.

The consort has repeatedly uncomprehensible payroll, The Verge reports.

Chicken Soup for the Soul Entertainment, which was supported in 2016, bought Redbox in 2022 and operates roughly 27,000 of its flushed property kiosks around the United States.

The business division of the consort is not compact by the insolvency filing.

Chicken Soup for the Soul was supported in 1993 by Jack Canfield and Mark Victor Hansen, digit motivational speakers who free the favourite inspirational aggregation program of the aforementioned name. Its example aggregation featured essays meant to support readers see better, such as “chicken soup has a sanative gist on the embody of the ill.”

The consort went on to publicize more than 300 titles and has oversubscribed at small 500 meg copies of its aggregation worldwide.

This news was first reportable by Deadline.