Redbox's DVD Rental Empire Crumbles as Parent Company Chicken Soup for the Soul Entertainment Files for Bankruptcy

  • 2 months ago
DVD kiosk rental company Redbox is shutting down its business after its parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 7 liquidation bankruptcy. Redbox had around 34,000 kiosk locations across the US, primarily located in grocery and drug stores. Since 2002, it rented over 1 billion DVDs. Chicken Soup for the Soul Entertainment was $1 billion in debt and owed millions to entertainment companies. It filed for Chapter 11 bankruptcy in June 2024 after months of financial struggles and failing to pay employees and vendors for at least 4 weeks.

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