Redbox’s parent has reportedly filed for bankruptcy protection after defaulting on loans and missing payroll.
Chicken Soup for the Soul Entertainment, which acquired the DVD rental kiosk company in 2022, told employees of its bankruptcy plans late Friday, The Verge reported Saturday (June 29), citing an internal email.
The company says it has filed for a debtor-in-possession loan, which would let it secure additional working capital to meet payroll as it reorganizes. Employees have been waiting to get paid since June 21, the report said, while their health insurance lapsed in May.
But the report noted that it’s not clear whether Chicken Soup will be able to obtain the loan, as its bankruptcy filing shows it…
