Redbox Shuts Down After 22 Years of Business Here’s Why [Video]

It’s the end of an era for at-home moviegoers.

According to reports from NBC News, Deadline and The Wall Street Journal, Chicken Soup for the Soul Entertainment, Redbox’s parent company, converted its Chapter 11 bankruptcy case to a Chapter 7 liquidation proceeding on Wednesday, June 10. This means Redbox, a 22-year-old DVD rental and streaming service, will officially close.

The Wall Street Journal reports that the bankruptcy liquidation will shut down Redbox’s network of 24,000 DVD rental kiosks in nationwide retailers and leave approximately 1,000 employees without jobs. It’s not known when the kiosks will be shuttered.

U.S. Bankruptcy Judge Thomas Horan approved the company’s request due to there being “no means to continue to pay employees, to pay any bills,” reported The Wall Street Journal.

“Based on allegations we’ve heard, it’s important that a Chapter 7 trustee be appointed and undertake an appropriate investigation of the company,” said Horan, per the outlet, adding that …