Redbox Goes Bankrupt as Streaming Video Kills the Rental Kiosk

Redbox’s parent has reportedly filed for bankruptcy protection after defaulting on loans and missing payroll. Chicken Soup for the Soul Entertainment, which acquired the DVD rental kiosk company in 2022, told employees of its bankruptcy plans late Friday, The Verge reported Saturday (June 29), citing an internal email. The company says it has filed for a debtor-in-possession loan, which would let it secure additional working capital to meet payroll as it reorganizes. Employees have been waiting to get paid since …