Redbox's parent company stopped paying employees for over a week before finally filing for bankruptcy
Redbox's parent company stopped paying employees for over a week before finally filing for bankruptcy
admin 2024/06/30 23:46Redbox's parent company hasn't paid its employees in over a week amid financial woes that ultimately resulted in Chapter 11 bankruptcy.
Chicken Soup for the Soul Entertainment filed for bankruptcy protection on Friday, and Redbox Entertainment filed the following day, according to online records. Chicken Soup for the Soul Entertainment completed a $370 million deal to acquire Redbox Entertainment in 2022.
The media company's $970 million debt has trickled down to its employees, who haven't received payment since June 21 and worked without health insurance since May...
SEE MORE: https://www.businessinsider.com/redbox-bankruptcy-stopped-paying-employees-chicken-soup-soul-entertainment-2024-6
Chicken Soup for the Soul Entertainment filed for bankruptcy protection on Friday, and Redbox Entertainment filed the following day, according to online records. Chicken Soup for the Soul Entertainment completed a $370 million deal to acquire Redbox Entertainment in 2022.
The media company's $970 million debt has trickled down to its employees, who haven't received payment since June 21 and worked without health insurance since May...
SEE MORE: https://www.businessinsider.com/redbox-bankruptcy-stopped-paying-employees-chicken-soup-soul-entertainment-2024-6
