Redbox Parent Company Chicken Soup for the Soul Entertainment Files for Bankruptcy

The media conglomerate faces nearly $1 billion in debt, unpaid employee wages, and disputes with major creditors.

Chicken Soup for the Soul Entertainment acquired Redbox in 2022, assuming significant debt.
The company owes millions to over 500 creditors, including major studios and retailers.
Employees have not been paid for over a week, and medical benefits were suspended since mid-May.
A new CEO and board members have been appointed to navigate the bankruptcy proceedings.
The Delaware bankruptcy court will determine the company's future and potential asset sales.