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The owner of Redbox has filed for Chapter 11 bankruptcy

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Chicken Soup For The Soul News

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reported just a few days ago that it had suspended medical benefits and missed payroll, leaving employees without their paychecks for a week already. In a message to employees on Saturday, Chicken Soup for the Soul Entertainment said it had applied for a debtor-in-possession loan in an attempt to remedy the situation.

“Upon court approval, we expect payroll to be funded early in the week and funding for this upcoming week’s payroll to also be secured,” the message said, per. “We also expect to have the funds to reinstate medical benefits back to May 14, 2024 and going forward.

Its total debts come to about $970 million. Chicken Soup for the Soul Entertainment also owns the streaming service Crackle and a few other film and TV brands, in addition to selling the long-running self-help books it’s best known for.

 

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