Redbox To Close All 24,000 DVD Rental Locations

July 11, 2024 Business, Movies

DVD rental service Redbox is set to shut down after 22 years in business, as streaming continues to dominate the at-home entertainment market. Redbox’s parent company, Chicken Soup for the Soul Entertainment, changed its Chapter 11 bankruptcy case, filed last month, to a Chapter 7 liquidation case on Wednesday.

The conversion signifies that the company couldn’t come up with a repayment plan for its outstanding debts and will soon turn to selling off assets to pay back creditors. With the change to a Chapter 7 case, all employees will now be laid off and Redbox’s 24,000 kiosks will close.

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Redbox is shutting down after more than two decades of serving up DVD rentals from thousands of kiosks across the U.S. https://t.co/0Dp7B2JFYV

— Variety (@Variety) July 11, 2024