Chicken Soup for the Soul Shares Plunge After Bankruptcy Filing

Dow Jones07-01

By Colin Kellaher

Chicken Soup for the Soul Entertainment shares tumbled more than 40% in early trading Monday after the owner of the Redbox DVD kiosk service filed for chapter 11 bankruptcy.

Shares of the Cos Cob, Conn., company were recently changing hands at 11 cents, down 44%.

Shareholders are generally wiped out in bankruptcy cases.

Chicken Soup for the Soul sought bankruptcy-court protection after racking up nearly $1 billion in debt. It owes money to more than 500 creditors.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

July 01, 2024 10:36 ET (14:36 GMT)

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