iMedia Brands, Inc.

iMedia Brands, Inc. and 11 affiliates filed chapter 11 in Delaware on June 28, 2023, with consolidated asset and liability estimates both in the $100 million to $500 million range; the petition attachment listed about $272.6 million of assets and $373.7 million of debts as of April 29, 2023 source filing. The first-day declaration described a multi-brand interactive commerce business spanning ShopHQ, 1-2-3.tv, Christopher & Banks, J.W. Hulme, and iMedia Digital Services, employing about 600 U.S. workers and roughly 700 worldwide, but entering court after steep operating deterioration and borrowing-base pressure source filing. The debtors reported about $129.7 million of funded debt, including roughly $19.4 million on the ABL, $81.7 million of senior unsecured notes, seller paper tied to Synacor and 123TV, the Growth Capital Partners note, and PIPE notes, and they sought an immediate two-week cash-collateral bridge plus a $34.95 million DIP tied to a proposed RNN sale, warning that without financing they risked missed wage, tax, and vendor payments and even going off-air on major carriers source filing source filing source filing.