Redbox Closing Over 24,000 Kiosks (It’s Like the End of an Era!)
Say goodbye to Redbox!
(Flashback to 2015 and Collin excitedly renting from Redbox!)
It feels like an end of an era as we just learned that Redbox’s 24,000 movie rental kiosks will be closed down. The parent onlinepany of Redbox, Chicken Soup for the Soul Entertainment, has filed for bankruptcy and is now liquidating assets including all of these kiosks.
Even worse, Redbox’s main lender, HPS, has alleged gross misconduct by the onlinepany in the Chapter 11 bankruptcy filing. The onlinepany’s employees have not been paid for work that they performed and according to the New York Post, all 1,033 of them are now jobless without severance or extended benefits. 😢
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