Unable to pay its debts which are nearly a billion total, Chicken Soup for the Soul Entertainment - owner of Redbox - files for bankruptcy.

Chicken Soup for the Soul Entertainment, which owns movie rental company Redbox and the streaming service Crackle, has entered bankruptcy on rocky footing, with its lenders moving on Monday to wrest control from the company's chief executive.

The parent company of Redbox, those distinctive, red-colored kiosks at grocery stores that sell or rent DVDs, has filed for bankruptcy after enduring months of financial struggle.

How the once-powerful Redbox, known for its automated red kiosks, became the poster child for small entertainment businesses that couldn't adapt to a changing Hollywood.

The bankruptcy filing comes after months of a series of financial struggles for the company and piling unpaid bills. Chicken Soup for the Soul has accumulated nearly $1 billion in debt, the Chapter 11 filing submitted Friday in Delaware bankruptcy court shows,