- cross-posted to:
- movies@lemmy.world
- cross-posted to:
- movies@lemmy.world
informed employees of the filing late Friday […] that it had filed for a debtor-in-possession loan — a way for companies that are reorganizing after filing for bankruptcy to secure additional working capital to meet payroll. […] employees have been waiting for paychecks since June 21st […] it’s not certain that the company will be able to secure such a loan.
Chicken Soup took on $325 million in debt when it acquired Redbox in 2022 and has since been sued over a dozen times over unpaid bills.
Found it… https://www1.salary.com/Galen-C-Smith-Salary-Bonus-Stock-Options-for-REDBOX-ENTERTAINMENT-INC.html