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CSSE - Road to bankruptcy paved with DVDs: Final breath for Redbox
Chicken Soup for the Soul Entertainment Inc.
2024-07-02 06:01:43 ET
Some apparently didn't get the memo, or research the classic case studies on competitive advantage. Chicken Soup for the Soul Entertainment ( NASDAQ: CSSE ), the parent company of Redbox, has filed for bankruptcy, with a bill of nearly $1B owed to hundreds of creditors, including Sony ( SONY ), Warner Bros ( WBD ), Walgreens ( WBA ) and Walmart ( WMT ). Besides a network of 24,000 DVD rental kiosks, CSSE had some TV and streaming assets that never took off, including ad-supported video-on-demand services like Crackle and Popcornflix....