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.
The last many times I have gone to rent from Redbox their machine was an out of order. Non functional rental machines sure does not help matters.
True, but not paying for maintenance sure does help the executive hit his quarterly numbers to receive a bonus
Capitalism’s great!
Could’ve been triage - deferring maintenance to make payroll. Everything suffering as they try to stay alive. (random speculation 100%)