QVC Group files for Chapter 11 bankruptcy to slash debt

QVC Group filed for Chapter 11 bankruptcy extortion connected April 16, entering a restructuring statement with a bulk of its lenders that would trim its main indebtedness from astir $6.6 cardinal to $1.3 billion. The West Chester, Pennsylvania-based institution and definite U.S. subsidiaries, including QVC, Inc., commenced voluntary proceedings successful the U.S. Bankruptcy Court for the Southern District of Texas. International operations successful the U.K., Germany, Japan, and Italy are not portion of the filing.

The restructuring statement makes it wide that vendors, suppliers, and wide unsecured creditors volition get paid successful afloat — nary exceptions. On apical of that, the institution confirmed that cipher is losing their occupation oregon getting furloughed, and workers won't spot immoderate cuts to their wages oregon benefits portion this plays out. For context, QVC Group had northbound of $1 cardinal successful home currency and currency equivalents connected manus arsenic of December 31, 2025.

All brands — QVC, HSN, and Cornerstone Brands — are operating arsenic mean crossed broadcast TV, streaming, societal platforms, websites, apps, and retail locations. Gift cards, branded recognition cards, and instrumentality policies stay successful effect. The institution is targeting emergence from bankruptcy wrong astir 90 days.

"QVC Group is uniquely positioned to vie and triumph successful unrecorded societal shopping, and we are seeing aboriginal momentum successful our WIN Growth Strategy," David Rawlinson, president and CEO of QVC Group, said successful a statement. "With the enactment of our lenders and a much due superior structure, we judge we tin present connected our WIN Growth Strategy."

The institution says its restructuring is simply a effect to the diminution of accepted cablegram TV and the accelerated maturation of mobile, social, and streaming platforms. In 2025, QVC Group gained astir 1 cardinal caller U.S. customers connected TikTok Shop, and its QVC+ and HSN+ streaming work present has 1.5 cardinal monthly progressive users. The institution besides reported that streaming income grew by 19% successful 2025.

Cable billionaire John Malone brought QVC into his media empire with a $7.9 cardinal acquisition successful 2003, aboriginal adding Home Shopping Network to the portfolio successful 2017, according to the Hollywood Reporter.

The filing arrives arsenic firm bankruptcies person been hitting their highest levels since 2010, with 371 ample U.S. companies petitioning for bankruptcy extortion successful the archetypal fractional of 2025 unsocial — an summation of astir 11% from the aforesaid play the anterior year, according to S&P Global. Retailers successful peculiar person faced accelerating unit from the displacement to e-commerce, rising costs, and changing user habits, with household names specified arsenic Forever 21, Rite Aid, Claire's, and Joann each filing for Chapter 11 successful caller years.

The reorganized institution volition look arsenic Reorganized QVC, Inc., according to the company's announcement. Kirkland & Ellis LLP and Gray Reed are serving arsenic ineligible counsel, Evercore Group is serving arsenic fiscal advisor, and AlixPartners is serving arsenic restructuring advisor.