TV Network ShopHQ Files for Bankruptcy

Herbie J Pilato


According to, ShopHQ, associated with iMediaBrands, has filed for bankruptcy after bosses blamed declining cable subscribers.

A Closer Look

Founded in the 1990s, iMedia Brands owned the shopping channel ShopHQ, which has a reach of 90 million people. A bankruptcy motion was filed in June 2023 just prior to the channel's purchase by IV Media.

Court papers, observed by Bloomberg, have revealed that iMedia Brands is in debt for over $370 million. The company reported a loss of over $40 million for the first nine months of 2022.

James Alt, who was the chief transformation at the company, said a Chapter 11 bankruptcy filing was critical to ShopHQ's future. Bankruptcy papers were filed despite iMedia's increase in revenue during the Covid-19 pandemic.

Alt said the firm has benefitted from U.S. consumers using home shopping channels like ShopHQ.


As with other companies around the country, including various financial institutions in general, clothing retailers, and restaurants, the economic challenges facing ShopHQ represent the increasing financial strain on the business world.

[Note: This article is based on accredited news and media reports, including linked information attributed to and]

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Herbie J Pilato is the author of several books about pop culture including the newly-published CONNERY, SEAN CONNERY biography, the revised BIONIC BOOK, RETRO ACTIVE TELEVISION, THE 12 BEST SECRETS OF CHRISTMAS, MARY: THE MARY TYLER MOORE STORY, TWITCH UPON A STAR, and more. He's also a TV writer/producer, and has worked for Reelz, Bravo, E!, TLC, and hosted THEN AGAIN WITH HERBIE J PILATO, the hit classic TV talk show (which premiered on Amazon Prime in 2019).

Los Angeles, CA

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