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Redbox, the DVD rental kiosks that rose to prominence in the early 2010s, is shutting down after its parent company filed for liquidation on Wednesday, according to court documents. The parent ...
The once ubiquitous Redbox's parent company, Chicken Soup for the Soul Entertainment, recently filed for Chapter 11 bankruptcy. That's becoming a liquidation amid allegations of mismanagement.
Call it Deadbox. In another nail in the coffin of physical media, Redbox is shutting down after more than two decades of serving up DVD rentals from thousands of kiosks across the U.S. Redbox’s ...
With the Chapter 7 conversion, the company's assets will be liquidated, resulting in the shut down of its subsidiaries, including Redbox. In addition, over 1,000 employees will be laid off. The company's website and apps were taken down shortly after. [74] [75] [76] On July 11, 2024, Redbox officially shut down.
The COVID-19 pandemic exacerbated many issues affecting retailers, as many were forced to shut down due to non-pharmaceutical interventions that were issued in an effort to mitigate the pandemic. [35] At the same time, online shopping boomed during the coronavirus-related lockdown, even though it came back down starting in 2022. [36]
The parent company of Redbox, those distinctive, red-colored kiosks at grocery stores that sell or rent DVDs, has filed for bankruptcy after enduring months of financial struggle.
Bath & Body Works announced the closure of 50 US stores and one Canadian store, along with the opening of 26 new stores, in May 2020 due to sales slumping amidst the COVID-19 pandemic. [ 35 ] Barneys New York filed for bankruptcy on August 6, 2019. 15 of 22 stores closed, including Barneys flagship stores in Las Vegas, Chicago, and Seattle in ...
Redbox was founded in 2002, and at the height of its success was adding new kiosks by the hour to keep up with retailer interest and customer demand, according to the company's website. In 2010 ...