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Bankrupt Redbox Parent Chicken Soup For The Soul Entertainment Installs New CEO And Board Of Directors
Chicken Soup for the Soul Entertainment, which filed for Chapter 11 bankruptcy protection on Saturday, has installed a new CEO and board of directors.
Schwartz is a founder and the chairman of Guidepost Solutions, a New York firm providing investigations, monitoring, compliance, security technology, and risk management services. In a red-flag event before the bankruptcy filing, Rouhana last month removed the entire board except for himself, citing a seldom-invoked Delaware law enabling a controlling shareholder to do so with or without cause. Those labor actions constricted the studio pipeline and the company soon racked up debts with film distributors and retail locations like Walmart and Walgreens, where it operated thousands of kiosks.
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