I would advise you not to try to liquidate those DVDs. They are the property of the company, and the bankruptcy court could demand their return so they can auction them off to pay the creditors. It doesn't matter that you are also a creditor, you are not entitled to compensate yourself ahead of everyone else. That is for the bankruptcy judge to decide. If you sell those DVD's, the judge could order you to compensate the court with cash, and their estimate of the value may be more than what you sold them for.
I seriously doubt anyone goes to jail over this. My opinion is that I lost my Motus, FSR 1 here, and 2 weeks pay on top of benefits. The emails were disheartening to say the least. What did you think of that final team meeting where everyone played dumb? Amazing how the company leaders new nothing, heard nothing, and said nothing. The corporate world is ruthless. I'm just hoping to get a W-2. I read that HPS had claimed that Bill had also stopped paying employee payroll taxes to the govt. Really hope that doesn't bite me as well. Best to all at Redbox!!
I noticed that many redbox machine's were closed on Google maps at the end of last year. I was wondering why since they were always available since they were mostly outside of businesses. I even thought ok maybe cuz this is north Hollywood so maybe they have schedules but when I went come to Baldwin Park I realized the same issue
Some people I know worked as physicians for a company that suddenly went out of business and their malpractice insurance hadn’t been paid for at least a year. There wasn’t any 401 k or health care because independent contractors. These big companies all scammers
I’m surprised anyone working for Redbox in 2024 actually thought the company business model was sustainable. I’m shocked that this was even a business in 2024.
I was a RedBox customer from 2011-2023 after Blockbuster mostly went under (the final ones in my area at the time closed in early 2014). I did notice that RedBox's kiosk and digital rental selections dropped considerably over the course of 2023 and saw some kiosks closed over the country, so I had a feeling that the company was going under. It's a shame that Chicken Soup for the Soul's management was criminal as there was still a market for physical media and the company had a great online rental selection. Hang in there @Nick Jordan and thank you for uploading this video!
Not a lawyer but from what I understand you don't own the DVDs and so can't sell them, but as you are no longer an employee you have no specific duty of care for them either so you could, for instance, send registered mail to corporate headquarters setting a 'reasonable' time for them to pick up the DVDs or otherwise arrange for their return and inform them that if they are not picked up in that time they will be placed outside your house, at which point you cannot be held responsible for what happens to them. At least you wouldn't have to deal with storing them then. I'd ask an actual attorney though, if possible.
Sorry to hear how Redbox screwed you all. I worked as fsr1 for eight years and loved it. But in 19 when changed to "fair" payment method, for mileage, which reduced my rebursment by 7,000 a year, I knew they did not value their employees. I left when covid hit. I knew this business would not last, but never thought they would treat the employees this poorly at the end. Best of luck to all!
A similar thing happened to me with a call center I worked for. They closed shop overnight and we were all without jobs and our PTO taken. It turns out that employees are last in line as far as creditors are concerned in bankruptcy proceedings so you never get your money back. But you my friend... Oh boy are you lucky as they left you with some assets. Tell whoever comes to collect that you are not returning them until you get paid what you are owed.
Just about everything is subscription these days (streaming services). Most of these companies don't care about their employees or customers. They just want more and more profits and to please their shareholders/board. The system doesn't want you to own anything anymore. Just pay for anything you want monthly with prices continually rising. The laws favor corporations, not mom & pop business. Our "lawmakers" pass legislation that favors corp's and the wealthy. Meanwhile, working people are putting in the sweat equity, getting taxed to death, and getting screwed by our overlords.
For 16 years I ran a business where I sold nothing but movies on DVD blu-ray, and hard copy video games. In 2016, I could see the writing on the wall. It's ironic that Redbox sped up the decline of the hard disk because people stopped renting and buying movies at premium places like Blockbuster or Walmart when they could rent them from Redbox for 99 cents. Now Redbox itself is bankrupt. I knew in 2016 when they started doing the streaming services Nettflix, and eventually Disney, Hulu, paramount, and all the others, that sales would continue to decline and people would be less dependent on hard copy media. Over the next few years I phased movies out of my business entirely. In 2018, I completely phased out video game sales due to DLCs, and in 2020 I phased out the last of my movies. you have to be two steps ahead of media folks. If you see yourself in a job that looks like it's on the decline, best to look for something else that's got more longevity. Especially with AI trying to replace jobs out there. Best of luck guys! Praying for you. 🙏🙏🙏Lee
Man I feel old even though I’m only 30. I’ve seen life before social media and smart phones. I remember going to the video rental store to rent VHS tapes and DVD’s and now it’s all dead.
I worked Machine Service, so we may well have interacted, idk. Either way, I’m there with you. I’ve started a new job, thankfully, but it’s still wild to me everything that went down. I hope the ones responsible face some kind of justice.
