Chicken Soup for the Soul Entertainment, parent company of DVD rental giant Redbox, has filed for Chapter 11 bankruptcy protection due to nearly $1 billion in debt and ongoing financial struggles. The filing reveals millions owed to over 500 creditors, including major players in the entertainment industry and retailers like Walgreens and Walmart. Despite acquiring Redbox in 2022 to expand its reach and revenue, losses continued to mount for Chicken Soup for the Soul, with shares plummeting over 90% in the last year. The company's decline is attributed to lenders refusing to cooperate with refinancing efforts. Redbox, known for its DVD rental kiosks, has seen a decrease in locations from 36,000 to 27,000 since the merger. Chicken Soup for the Soul also operates ad-supported streaming platforms like Redbox Live TV and Crackle.