listing: all - local
search
1
234
Redbox’s owner files for bankruptcy after repeatedly missing payments and payroll (www.theverge.com)
submitted 2 months ago by Bishma@discuss.tchncs.de to c/technology@lemmy.world
24 comments fedilink

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.

2
227
Redbox's owner files for bankruptcy after repeatedly missing payments and payroll: The company hasn’t paid employees in over a week and owes money to almost everyone in Hollywood ($970M in debt) (www.theverge.com)
submitted 2 months ago by TheImpressiveX@lemmy.ml to c/movies@lemmy.world
33 comments fedilink
view more: next ›

Lemmy.institute

47 readers
0 users here now

Looking for a new home for your community of nerds? You've come to the right place. Lemmy.institute was created as a home for all kind of science and technology-related communities.

Community Guidelines

Please be respectful toward fellow members of the fediverse. We encourage open discussion, but we do not tolerate spam, harassment, or disrespectful behaviour. Let’s keep it civil!

Pornographic (NSFW) contents are not allowed.

Do you want to create and moderate a new community? Post a request at c/communityrequest

Misc

founded 1 year ago
ADMINS
admin