Chicken Soup for the Soul Entertainment, Parent of Redbox, Files for Chapter 11 Bankruptcy Disclosing Nearly $1 Billion in Debt
variety.comTodd Spangler NY Digital Editor Chicken Soup for the Soul Entertainment, the entertainment company that operates Redbox, Crackle and other businesses, filed for Chapter 11 bankruptcy protection — after failing to pay employees and vendors for at least the past week.
The company’s June 28 bankruptcy petition was filed in the U.S. Bankruptcy Court for the District of Delaware. In the filing, Chicken Soup for the Soul Entertainment listed total debts of $970 million and consolidated assets of $414 million as of March 31, 2024.
As of March 31, Chicken Soup for the Soul Entertainment reported cash and equivalents of $4.9 million, which included $4.6 million of restricted cash.
Creditors listed on CSSE’s bankruptcy include Universal Studios Home Entertainment (which is owed $16.7 million) as well as Universal City Studios Productions ($16.7 million), Sony Pictures Home Entertainment ($9.1 million), BBC Studios Americas ($9 million), Walgreens ($5 million), Lionsgate ($4.6 million), Walmart ($4.1 million), Vizio ($2.75 million), Warner Bros.
Read more on variety.com