Execs and employees who were attending the hearing announced that it was a heartbreaking decision and that they had been working day and night to find alternative solutions. However, with the CSSE liquidation set in stone, the current trajectory is that all employees will be let go, and 24,000 Redbox kiosks will be shut down.
As far as providing any back pay or severance for employees, CSSE announced that plans have not been finalized. They did release a statement that a bankruptcy trustee is soon to be appointed to determine next steps. In regards to the Redbox kiosks, no plan has been announced for their removal timeline, but it’s safe to say they will be put out on the curb.
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