End of an Era: Redbox Ceases Operations as Parent Company Pursues Bankruptcy Liquidation
Thursday, 11 July 2024, 23:59
Redbox Ceases Operations
Redbox, the DVD rental giant, has confirmed the closure of its services after 22 years in operation. The move comes as its parent company, Chicken Soup for the Soul Entertainment, opts for bankruptcy liquidation.
Bankruptcy Transition
The transition from Chapter 11 to Chapter 7 bankruptcy indicates a challenging financial situation that led to the shutdown of Redbox's extensive network of 24,000 rental kiosks.
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