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Redbox DVD kiosk owner Chicken Soup for the Soul files for bankruptcy

Chicken Soup for the Soul Entertainment—the seller of self-help books, film and television content—filed for Chapter 11 protection in Delaware late Friday.

Chicken Soup for the Soul Entertainment Inc. — the seller of self-help books, film and television content — filed for bankruptcy after failing to outrun a heavy debt load. Chicken Soup struggled to keep up with its financial obligations after buying DVD rental company Redbox in 2022, court papers show. It took on about $360 million of debt in connection with the deal, a sum that would only be manageable if it could capitalize on movie releases bouncing back from pandemic-era lows, Chairman William J. Rouhana Jr. said in a sworn bankruptcy court statement.

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