Positive thinking wasn't enough to help Chicken Soup for the Soul Entertainment escape a pile of unpaid bills.The publisher of uplifting books, TV, movie and online video content, which also owns DVD rental operator Redbox, on Friday filed for Chapter 11 bankruptcy protection in Delaware court after racking up nearly $1 billion in debt.Chicken Soup was founded in 1993 by motivational speakers Jack Canfield and Mark Victor Hansen.
In court documents, the company said its lenders were unwilling to cooperate with refinancing.A spokesperson for Chicken Soup for the Soul declined to comment.Chicken Soup for the Soul saw rapid growth after going public in 2017, when its investors included Ashton Kutcher, with its annual revenues soaring from less than $10 million to more than $294 million in 2023.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Redbox Parent Company Chicken Soup for the Soul Entertainment Files for BankruptcyThe company reportedly owes almost $1 billion to creditors including Walmart, Vizio, and major movie studios.
Source: ComicBook - 🏆 65. / 68 Read more »
Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protectionChicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection. The bankruptcy filing comes after months of a series of financial struggles for the company and piling unpaid bills.
Source: AP - 🏆 728. / 51 Read more »
Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protectionChicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection.
Source: ksatnews - 🏆 442. / 53 Read more »
Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protectionChicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for Chapter 11 bankruptcy protection.
Source: wjxt4 - 🏆 246. / 63 Read more »
Redbox DVD kiosk owner Chicken Soup For The Soul files for bankruptcyChicken Soup for the Soul Entertainment has filed for Chapter 11 bankruptcy in Delaware, with nearly $1 billion in debt, two years after purchasing DVD rental company Redbox.
Source: FoxBusiness - 🏆 458. / 53 Read more »