'Chicken Soup for the Soul Entertainment Seeks Bankruptcy Protection'

Money | June 30, 2024, 5:53 p.m.

Chicken Soup for the Soul Entertainment, the parent company of Redbox, has filed for Chapter 11 bankruptcy protection due to debts totaling $970 million. The company owes millions to major entertainment and media companies, as well as retailers like Walgreens and Walmart. Founded in 1993 by motivational speakers Jack Canfield and Mark Victor Hansen, Chicken Soup for the Soul is known for its inspirational book series that includes titles like “From Lemons to Lemonade” and “Angels Among Us.” The company's mission is to provide stories of overcoming obstacles and offering life advice to help heal readers' souls. This bankruptcy filing marks a significant turn for both Chicken Soup for the Soul Entertainment and Redbox, known for its red kiosks offering movie rentals.