The parent company of DVD rental giant Redbox, Chicken Soup for the Soul Entertainment, has filed for Chapter 11 bankruptcy protection after accumulating nearly $1 billion in debt and owing millions to over 500 creditors. The filing reveals a significant decline in assets and a steep increase in debts, leading to a more than 90% drop in public company shares over the last year. Chicken Soup for the Soul's acquisition of Redbox in 2022 was meant to boost revenue and create an entertainment conglomerate, but financial losses persisted. Despite operating about 27,000 kiosks across the U.S., down from 36,000 at the time of the acquisition, the company's lenders were unwilling to cooperate with refinancing efforts. The future of Chicken Soup for the Soul's ad-supported streaming and video on-demand services, including Redbox Live TV and Crackle, remains uncertain as the company navigates through this bankruptcy process.