Shopping Channel Files Bankruptcy
America’s Shopping Channel, an El Cajon-based shop-by-television company shown on Cox Cable, has filed for reorganization in bankruptcy court.
The shopping channel company listed $5.96 million in assets and $6.56 million in debt in documents filed Sunday seeking protection under Chapter 11 of the federal bankruptcy laws.
Company officials were not available for comment Monday.
About $3.2 million of the debt is secured to two holders and about 250 other creditors are named, according to the filing.
The company, a Louisiana corporation, also reported that it had 112,900 shares outstanding.
Cox Communications, owner of Cox Cable and one of the largest cable networks in the country, was the largest single shareholder with more than 25%.
The company has operated for 20 months. As of December, 1987, the shopping channel was seen in six U.S. cities.
America’s Shopping Channel joined 36-channel Cox Cable in August 1986 on Channel 29. Cox serves more than 275,000 subscribers locally.
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