Chicken Soup for the Soul Entertainment has confirmed what has appeared inevitable, at least recently, filing for Chapter 11 bankruptcy protection in Delaware.
“In connection with the filing, we have applied for approval of a debtor in possession [DIP] loan," the owner of the troubled Redbox DVD rental kiosk business told employees Saturday. "Upon court approval, we expect payroll to be funded early in the week and funding for this upcoming week’s payroll to also be secured. We also expect to have the funds to reinstate medical benefits back to May 14, 2024 and going forward. We will provide regular updates.”
