https://layoffcheck.com/companies/redbox Layoff and WARN notices reported for Redbox. en-us https://layoffcheck.com/companies/redbox#2024-07 https://layoffcheck.com/companies/redbox#2024-07-728 Wed, 10 Jul 2024 12:00:00 GMT Redbox ceased operations in July 2024 after its parent, Chicken Soup for the Soul Entertainment, converted a Chapter 11 bankruptcy filing to Chapter 7 liquidation, putting roughly 1,000 employees out of work. The company had filed for Chapter 11 on June 29, 2024, carrying nearly $1 billion in debt. Judge Thomas M. Horan approved the Chapter 7 conversion after the company had failed to pay employees or cover health insurance premiums since mid-May. A debtor-in-possession loan of $8 million from HPS Investment Partners temporarily restored payroll and benefits, but HPS declined to extend further funding. All 24,000 Redbox kiosks were shut down along with the streaming service and mobile app. Former board members Rob Warshauer and John Young stated they "cannot, in good conscience, continue down this path with no source of funding." No severance was guaranteed; a Chapter 7 trustee was appointed to determine what back pay, if any, workers could recover.