Chicken Soup for the Soul Entertainment, Inc. Class A Common Stock

CSSE

Market cap $3.42M

Another once-prominent company may soon be obsolete. Chicken Soup for the Soup Entertainment (NASDAQ: CSSE ) has officially filed for Chapter 11 bankruptcy protection as of yesterday, July 1.

NEW YORK — Chicken Soup for the Soul Entertainment, the parent of DVD rental operator Redbox, has filed for chapter 11 bankruptcy protection.

Chicken Soup for the Soul Entertainment has filed for Chapter 11 bankruptcy in Delaware, with nearly $1 billion in debt, two years after purchasing DVD rental company Redbox.

EXCLUSIVE: Chicken Soup for the Soul Entertainment, which filed for Chapter 11 bankruptcy protection on Saturday, has installed a new CEO and board of directors. Bart Schwartz, whose business career has not included any significant media or entertainment experience, is stepping in to replace Bill Rouhana as CEO.

The owner of Redbox has filed for bankruptcy after accumulating nearly $1 billion in debt.

Chicken Soup for the Soul Entertainment (NASDAQ: CSSE ) stock is falling hard on Monday after the Redbox parent company announced a Chapter 11 bankruptcy filing. The filing reveals that Chicken Soup for the Soul Entertainment is struggling with massive amounts of debt higher than $1 billion.

After months of financial struggles, Redbox parent Chicken Soup for the Soul Entertainment has filed for Chapter 11 bankruptcy protection. The company relayed news of the Delaware court filing in a message to employees in the early hours of Saturday. “Overnight we filed for Chapter 11 bankruptcy protection,” the message said.

EXCLUSIVE: In the latest sign of trouble for Redbox parent Chicken Soup for the Soul Entertainment, the company's employees say they have not been paid in nearly a week and their medical benefits have been suspended.

Chicken Soup for the Soul Entertainment, the ailing parent of video kiosk operator Redbox and streaming services like Crackle and Popcornflix, has gotten rid of its entire board of directors. The only remaining board member, the company said in an SEC filing late Monday, is Chairman and CEO Bill Rouhana.

Hosted by Bethany Mota, the series features popular online influencers that include Kika Kim, Jordyn Jones and Jojo Sim WATCH THE TRAILER HERE LOS ANGELES , June 7, 2024 /PRNewswire/ -- Venture 10 Studio Group, in partnership with Wright Productions and Crackle, a division of Chicken Soup for the Soul Entertainment, today announced the second season of the hit reality series Follow Me will premiere exclusively on the free streaming service on June 13. Sponsored by Mars Wrigley, the 10-episode series shows fans what it takes to build a brand as an influencer in the social media age.