Chicken Soup for the Soul Entertainment, the parent company of the movie rental company Redbox, which is known for its distinctive red kiosks, filed for Chapter 11 bankruptcy protection on Friday.
In the filing, Chicken Soup listed debts of about $970 million, and total assets of about $414 million.
It owes millions to entertainment and media companies, including Universal Studios, Sony Pictures and BBC Studios Americas, as well as some retailers, such as Walgreens and Walmart, according to court filings.
Chicken Soup for the Soul was founded in 1993 by two motivational speakers, Jack Canfield and Mark Victor Hansen.
Its original book, published more than 30 years ago, dispensed life advice and stories of overcoming obstacles with the hope that it would heal readers’ souls just as “chicken soup has a healing effect on the body of the ill.”
Persons:
Jack Canfield, Mark Victor Hansen, ”
Organizations:
Soul Entertainment, Universal Studios, Sony Pictures, BBC Studios, Walgreens, Walmart, “