Redbox’s owner files for bankruptcy after repeatedly missing payments and payroll ( www.theverge.com )
cross-posted from: https://discuss.tchncs.de/post/18127978
informed employees of the filing late Friday [...] that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional working capital to meet payroll. [...] employees have been waiting for paychecks since June 21st [...] it’s not certain that the company will be able to secure such a loan.
Chicken Soup took on $325 million in debt when it acquired Redbox in 2022 and has since been sued over a dozen times over unpaid bills.
