It's a sad day for DVD lovers (I know you exist). Redbox, the company that provides those DVD kiosks seen at the grocery store and other random locations, is shutting down as their parent company files for bankruptcy.
Yes, you'll no longer have the convenience of picking up that prescription at Walgreens and being able to grab a scratched-to-shreds copy of that Nicolas Cage film you've been meaning to watch on the way out.
Redbox's network of 24,000 DVD rental kiosks and its streaming services will be shut down after its parent company, Chicken Soup for the Soul Entertainment, converted its Chapter 11 bankruptcy case to a Chapter 7 liquidation proceeding on Wednesday …
Redbox's business had been in decline for more than a decade before Chicken Soup for the Soul Entertainment bought it in 2020. Its revenue peaked in 2013 at $1.97 billion, and the chain at once [sic] time had operated more than 43,000 kiosks in the U.S. and Canada stocked with movies, TV shows and games.
Chicken Soup for the Soul is one of the 75 June corporate bankruptcy filings we showed you yesterday.
Welp, I guess all you DVD people will have to switch to online streaming now. Either that or I'll meet you at Walmart and we can all gather around that $5 DVD bin and start diggin'!
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