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Business

Daniel Frankel

Chicken Soup for the Soul Raises $175 Million, Hopes to Avoid Bankruptcy

Chicken Soup Redbox

Redbox.

Chicken Soup or the Soul Entertainment revealed in an 8-K filing to the SEC Friday that has secured time and financing from its primary lenders in hopes of avoiding bankruptcy.

The struggling corporate owner of the Redbox DVD rental kiosk business has secured $175 million in working capital, with $75 million being turned right back around to pay off its substantial debt.

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