- cross-posted to:
- business
- [email protected]
- movies
- [email protected]
- cross-posted to:
- business
- [email protected]
- movies
- [email protected]
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.
If only Redbox had 4k blurays I’d probably have used them more, but I know that’s probably way too niche.