It owes money to Universal, Sony, Lionsgate, Warner Bros., and more.

informed employees of the filing late Friday […] that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional working capital to meet payroll. […] employees have been waiting for paychecks since June 21st […] it’s not certain that the company will be able to secure such a loan.

Chicken Soup took on $325 million in debt when it acquired Redbox in 2022 and has since been sued over a dozen times over unpaid bills.

  • nocturne@sopuli.xyzEnglish
    15·
    5 months ago

    The last many times I have gone to rent from Redbox their machine was an out of order. Non functional rental machines sure does not help matters.

    • Glowstick@lemmy.worldEnglish
      12·
      5 months ago

      True, but not paying for maintenance sure does help the executive hit his quarterly numbers to receive a bonus

      • brbposting@sh.itjust.worksEnglish
        3·
        5 months ago

        Capitalism’s great!

        Could’ve been triage - deferring maintenance to make payroll. Everything suffering as they try to stay alive. (random speculation 100%)