(CNN)– The parent company of DVD rental vendor ‘Redbox’ is filing for bankruptcy. Chicken Soup for the Soul Entertainment, which owns Redbox filed for Chapter 11 Bankruptcy Protection on Friday. In the filing, the company disclosed it was nearly one-billion dollars in debt and that it owes millions of dollars to several entertainment companies. Redbox has reportedly not been paying employees for a week, and medical benefits have already been suspended. Filing for bankruptcy could help the company fix those issues if a Delaware court approves the company’s plan. Categories: News Tags: Redbox