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Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protection

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The company has accumulated nearly $1 billion in debt after reporting loss after loss in recent quarters.

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. Connecticut-based Chicken Soup for the Soul declined to comment when reached by The Associated Press Monday. In court documents, the company said that its lenders were unwilling to cooperate with refinancing.Chicken Soup for the Soul acquired Redbox in 2022. 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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