As previously disclosed, on June 28, 2023, Legacy IMBDS, Inc. (f/k/a iMedia Brands, Inc.) (? Company?) and certain of its subsidiaries (collectively, the ? Debtors?) filed voluntary petitions (the ?

Chapter 11 Cases?) in the United States Bankruptcy Court for the District of Delaware (the ? Bankruptcy Court?) seeking relief under Chapter 11 of Title 11 of the United States Code. The Chapter 11 Cases are being administered under the caption In re: Legacy IMBDS, Inc., et.

al. (Case No. 23-10852).

On February 21, 2024, the Bankruptcy Court entered an order (the ? Confirmation Order ?) confirming the Debtors? Combined Joint Chapter 11 Plan of Liquidation and Disclosure Statement of Legacy IMBDS, Inc. and its Debtor Affiliates (including all exhibits and plan supplements thereto, collectively the ?

Plan?), as revised and filed with the Bankruptcy Court on December 20, 2023. A copy of the Confirmation Order is attached as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Plan will be effective as of a date (the ?

Effective Date?) to be determined. It is currently anticipated that the Effective Date will occur in the first calendar quarter of 2024. Pursuant to the terms of the Plan, as of the Effective Date, the Company?s board of directors shall be dissolved and all remaining officers, directors, or managers of the Company shall be dismissed.

Each of the Company?s directors (Darryl Porter, Landel Hobbs, Jill Krueger, Alan Aldworth, Aaron Reitkopf, Michael Friedman, Eyal Lalo, Steve Panagos, and Jill Frizzley), and the Company?s remaining officer, James Alt, will cease to be directors and officers of the Company on the Effective Date.