Chicken Soup for the Soul Entertainment Inc., a media company known for self-help books and film content, recently filed for bankruptcy due to overwhelming debt. Despite acquiring Redbox, the company found itself struggling to meet financial obligations, leading to the need for Chapter 11 protection. Chairman William J. Rouhana Jr. cited the inability to secure additional funds to buy new content as a key factor in the company’s financial woes. To address this, Chicken Soup plans to sell off certain business units and restructure others during the bankruptcy process. The company also secured $20 million in new debt to facilitate the proceedings. Despite these challenges, Chicken Soup still operates thousands of Redbox DVD kiosks and a streaming service called Crackle. With a vast content library, the company hopes to navigate the bankruptcy process and emerge stronger. Founded in 1993, the company aims to bounce back from this setback and continue providing its unique blend of self-help literature and entertainment.