Redbox is scattered throughout 24,000 locations across the country. It filled a space left behind by Blockbuster, delivering DVD movies in convenient locations to fill a void of people who wanted the latest movies, but couldn’t stream them. Chicken Soup for the Soul Entertainment, their parent corporation, has been struggling to keep a number of operations afloat, and is moving now into Chapter 7 bankruptcy; liquidation. It turns out that the payroll was higher than the earnings at Redbox, which is not a good sign for their 1000 employees, who have been left without paychecks or insurance for well over a month. This follows Netflix recent departure from the DVD delivery business, and marked declines in physical media availability.
Redbox’s parent company has filed for Chapter 7 bankruptcy.
Found at www.engadget.com
