Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protection

Chicken Soup for the Soul filed for Chapter 11 bankruptcy protection due to accumulating nearly $1 billion in debt and financial struggles after acquiring Redbox in 2022. The company reported losses over recent quarters and was unable to make payroll for the two-week period ending on June 14, 2024.

Chicken Soup for the Soul Entertainment has accumulated nearly $1 billion in debt, as revealed in its Chapter 11 bankruptcy filing in Delaware bankruptcy court5. The company has been facing financial struggles for several months, with losses piling up in recent quarters.