Chicken Soup for the Soul Entertainment Files Chapter 11
How much does Chicken Soup owe in total debts?
Chicken Soup for the Soul Entertainment owes a total of $970 million in debts, as listed in their recent Chapter 11 bankruptcy filing.
What is Chicken Soup's total asset value currently?
Chicken Soup for the Soul Entertainment's total assets are currently valued at approximately $414 million, as reported in their recent financial statement. The company has experienced fluctuations in its asset value over the years, with a range of assets including cash, inventories, and accounts receivable.
What led Chicken Soup to file for Chapter 11 bankruptcy?
Chicken Soup for the Soul Entertainment filed for Chapter 11 bankruptcy due to a heavy debt load of about $970 million. The company struggled to keep up with its financial obligations after acquiring Redbox in a debt-heavy deal in 2022, and faced additional challenges from the Hollywood writers' and actors' strike in 2023 and the ongoing decline of physical disc rentals.