The parent company of Redbox, known for its iconic red kiosks at grocery stores, has filed for bankruptcy following financial difficulties. Chicken Soup for the Soul Entertainment (CSSE) acknowledged having nearly $1 billion in debt, owing millions to entertainment companies and retailers. Struggles began after acquiring Redbox in 2022, aiming to combine it with free streaming services to form an entertainment powerhouse. However, plans were thwarted by Hollywood strikes and declining demand for physical DVDs. The company's failure to pay employees and suspended benefits prompted the Chapter 11 bankruptcy filing, which may aid in resolving these issues pending court approval. Notably, the company's publishing arm remains unaffected. With over 34,000 kiosks in the US, Redbox has rented 1 billion discs since its launch in 2002, offering affordable entertainment alternatives.