Once Thriving and Popular Company in the Golden State is Closed For Good
The year 2024 has not been good for many businesses and sadly, the trend isn't slowing down. Many companies, food chains, and businesses that once were popular and thriving have filed for bankruptcy and closed entirely, while others are hanging on by a thread. There have been some poor business decisions that have led to some of these closures, some of it is lingering results from the pandemic a few years ago, and some of it is due to a shift in society. No matter the reason for all the places closing, the list continues to grow, and another one-time popular business has closed all of its locations in California.
Redbox Officially Closes All California Locations
It has seemed inevitable for a long time, but somehow Redbox has been able to hang around through a pandemic and the rise of streaming services, but the days were numbered and the good fight had to end someday. Redbox has officially filed for bankruptcy and has closed all of its locations across the state of California, and the United States. The kiosks remain outside of many grocery stores and gas stations, but if you attempt to try and use one, you will be disappointed with the results. The parent company, Chicken Soup for the Soul Entertainment, filed for Chapter 7 bankruptcy, ending the run of Redbox, after 22 years.
Redbox Closures Mark The End of An Era
Redbox launched in 2002, and many saw it as a replacement for Blockbuster and an easy and user-friendly way to rent movies and video games. The number of kiosks grew to over 34,000 nationwide, often inside grocery stores, outside of gas stations, and spread across towns to be conveniently located for users. It marks the end of an era that many will be sad to see end, but it is a tad surprising it didn't happen sooner. With streaming services such as Max, Netflix, Disney Plus, and more being launched over the last few years, the kiosks were being used less and less. The company that owned Redbox will let go around 1,000 employees with no severance or extended benefits, as they are in around $1 billion in debt.
It is sad to see an era come to an end, and it will be interesting to see how long the kiosks continue to sit in their locations, and what will fill up their spaces once they are moved. For more details on the bankruptcy and Redbox going out of business, make sure to click the link above.
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