/ The company hasn’t paid employees in over a week and owes money to almost everyone in Hollywood.A Redbox machine from 2015.
Redbox’s owner, Chicken Soup for the Soul Entertainment, filed for bankruptcy protection overnight. This comes at the tail end of a month in which the DVD rental company defaulted on loans, saw an order for its cars to be repossessed, and missed payroll for employees.
Chicken Soup for the Soul Entertainment informed employees of the filing late Friday, writing in an email seen by The Verge that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional
→ Continue reading at The Verge
