After months of financial struggles,RedboxparentChicken Soup for the Soul Entertainmenthas filed forChapter 11bankruptcyprotection.
Overnight we filed for Chapter 11 bankruptcy protection, the message said.
We will provide regular updates.
Redbox parent Chicken Soup for the Soul EntertainmentGetty Images
A number of vendors and filmmakers had also gone unpaid, and some had filed lawsuits.
The filing warned that bankruptcy was a potential outcome if the company failed to secure funding.
Total debt is at $970 million, per the filing.
Shareholders are usually left holding the bag in Chapter 11 cases, though most investors have already fared poorly.
CSSEs beleaguered stock has already been in danger of being delisted by the Nasdaq.
