Is Redbox Shutting Down? Why is Redbox Not Working?
by
Updated Jul 12, 2024
Is Redbox Shutting Down?
Yes, Redbox is shutting down. Redbox has been around for 22 years. It has 24,000 DVD rental kiosks across the country. The parent company, Chicken Soup for the Soul Entertainment, is bankrupt. They changed their bankruptcy case to liquidation.
This means they will sell everything and close. About 1,000 employees will lose their jobs. The judge said the company cannot pay employees or bills. Redbox's kiosks will soon be removed from stores. It's a sad end for a popular movie rental service.
Why is Redbox Not Working?
Redbox is not working because its parent company, Chicken Soup for the Soul Entertainment, has filed for bankruptcy. This means they don't have enough money to keep operating Redbox's DVD rental kiosks. The company owes a lot of money, almost $1 billion, and can't pay its bills or employees.
As a result, they're closing down all 24,000 Redbox kiosks across the country. This decision leaves about 1,000 people without jobs. It's a big change for movie lovers who used Redbox to rent DVDs and games easily from grocery stores and other locations.
When Did Redbox Start?
Redbox started in 2002. It was founded by Gregg Kaplan. Redbox set up kiosks where people could rent DVDs and later Blu-ray discs and video games. Over time, Redbox became popular across the United States, with thousands of kiosks in places like grocery stores and pharmacies. In 2022, Chicken Soup for the Soul Entertainment bought Redbox. Sadly, Redbox shut down in July 2024 because its parent company went bankrupt.
Is Redbox Going Out of Business?
Yes, Redbox is going out of business. Its parent company, Chicken Soup for the Soul Entertainment, filed for bankruptcy, leading to the closure of Redbox kiosks. All employees are affected, and while some kiosks have closed, others may follow. Customers might still need to return movies rented from Redbox.
Redbox
Redbox was a company where you could rent movies and games from red kiosks at places like grocery stores and restaurants. It started in 2002 and grew to have many kiosks across the United States. People liked it because it was easy and convenient.
In 2022, another company called Chicken Soup for the Soul Entertainment bought Redbox. Sadly, Redbox had to shut down in July 2024 because its parent company went bankrupt. This meant all the Redbox kiosks closed, affecting where people could rent DVDs and Blu-rays.
