After filing for Chapter 11 bankruptcy on June 28, 2023, the channel's parent company, iMedia Brands, said on July 10 that it could sell its assets to RNN Media Group for $50 million, in a deal scheduled to close in August.

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Manoj Bhargava's company IV Media will acquire iMedia, owner of TV shopping network ShopHQ, for around $55 million. Manoj Bhargava's IV Media agreed to pay about $55 million for the Eden Prairie-based company.

What is the reason for hosts departing from ShopHQ? The economic challenges since 2020, combined with downsizing initiatives and decreasing sales, have resulted in prominent hosts like Laura Duffek and Heather Hall departing from the platform.