NEW YORK (NEWSnet/AP) — Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection.

Chicken Soup for the Soul has accumulated nearly $1 billion in debt, the Chapter 11 filing submitted Friday in Delaware bankruptcy court shows, after reporting loss after loss over recent quarters.

The filing also discloses that Chicken Soup for the Soul owes millions to over 500 creditors — which range from big names in the entertainment world like Sony Pictures and Warner Bros, to major retailers like Walgreens and Walmart.

As of March of this year, Friday’s filing shows, Chicken Soup for the Soul had about $414 million in assets and $970 million in debts.

In court documents, the company said that its lenders were unwilling to cooperate with refinancing.

Chicken Soup for the Soul acquired Redbox in 2022. 

Redbox, founded in 2002, is best known for red-colored, self-serve machines that sit outside of pharmacies or groceries stores to rent or sell DVDs. In Friday’s filing, Chicken Soup for the Soul noted that it currently operates about 27,000 kiosks across the U.S. — down from 36,000 at the Redbox acquisition was finalized in August 2022.

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