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)
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)
It owes money to Universal, Sony, Lionsgate, Warner Bros., and more.
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300 million dollars of debt accrued per year. How are they losing so much money? Isn’t the point of Redbox that it has nearly 0 overhead? I’m imagining a field in Nebraska with kiosks arranged in identically spaced rows of length indescribable, warping along with the light whose freedom they’ve stolen. The crimson horde stand in opposition to the very nature of space, a concatenation in both part and whole, clawing at the space where sanity ends and reason begins.
And even then, their overhead would only be like $53 per month.
They more than likely took loans out to buy tbe dvds in bulk instead of paying up front. That’s why everyone in hollywood is owed money, they paid a bit up front and then promised the rest later.
I think it's that the parent company took out huge loans to buy Redbox. And that's the streaming service they setup has ongoing costs and overhead, like licencing. And the loans they took out to make their own content.
Them concatenations need maintenance and service persons for that crimson horde.
Yeah, $53 per month for the liminal legion. If anything, I’m overestimating.
Never have I read finer poetry.