iMedia Brands Goes Bankrupt as Inflation Kills Boomer Strategy

iMedia Brands Inc. filed for bankruptcy, blaming inflation for its failed strategy to attract more baby boomers to a mix of television shopping channels, brick-and-mortar stores and ecommerce sites.

The company owes its main creditors about $130 million, including unsecured notes and debt left over from its 2021 purchase of a German media company that holds live auctions for merchandise on television. The company listed total debt of $373.7 million and assets worth $272.6 million in its Chapter 11 petition filed late Wednesday night.

While protected from creditors in bankruptcy, the company will try to find a buyer or ...