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    Redbox closing Kansas City kiosks following parent company’s bankruptcy

    By Ellen Cagle - Kansas City Business Journal,

    11 hours ago

    https://img.particlenews.com/image.php?url=0TQtKu_0uVhxeVQ00

    KANSAS CITY, Mo. — Movie rental company Redbox will roll the credits as part of its parent company’s liquidation, closing all its Kansas City-area kiosks.

    Earlier in July, Redbox Automated Retail LLC owner Chicken Soup for the Soul Entertainment decided to convert to a Chapter 7 liquidation from Chapter 11 , meaning instead of trying to reorganize its debt, the company will sell its assets. As of March 31, the Connecticut-based company reported $414 million in assets and $970 million in total debt, owed to more than 500 creditors.

    Multiple people arrested in connection with Kansas City theft ring

    Chicken Soup for the Soul Entertainment took on $360 million in debt in 2022 when it bought Redbox, which has around 27,000 movie rental kiosks nationwide. The company’s other flagship brand is Crackle.

    See a list of locations from the Kansas City Business Journal .

    Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

    For the latest news, weather, sports, and streaming video, head to FOX 4 Kansas City WDAF-TV | News, Weather, Sports.

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