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. This means Redbox, a 22-year-old DVD rental and streaming service, will officially close. 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.