It owes money to Universal, Sony, Lionsgate, Warner Bros., and more.

informed employees of the filing late Friday […] that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional working capital to meet payroll. […] employees have been waiting for paychecks since June 21st […] it’s not certain that the company will be able to secure such a loan.

Chicken Soup took on $325 million in debt when it acquired Redbox in 2022 and has since been sued over a dozen times over unpaid bills.

  • @[email protected]English
    15•5 months ago

    Imagine that: some scammy motivational speakers who have been peddling a bunch of feel-good bullshit for decades didn’t know how to fix a company that was hemorrhaging money with warm thoughts and regards.

    I would have taken that bet.