BY Fraser Tennant
Citing major financial headwinds, US media conglomerate QVC Group – the parent company behind well-known shopping channels QVC and HSN – has filed for Chapter 11 bankruptcy protection.
The filing will allow QVC to implement a restructuring support agreement (RSA) with holders representing a significant majority of the company’s outstanding funded debt. No layoffs or furloughs are planned in connection with the financial restructuring process.
Aiming to cut its debt from $6.6bn to $1.3bn and exit bankruptcy within 90 days, the RSA outlines the terms of a comprehensive prepackaged financial restructuring plan that will substantially reduce the company’s debt and strengthen its financial position.
As of 31 December 2025, QVC had over $1bn in domestic cash and cash equivalents. Together with cash generated from ongoing operations, the company has ample liquidity to meet its business obligations during the court-supervised process. Under the terms of the RSA, all third-party general unsecured creditors will have their claims paid in full or reinstated.
Not included in the court-supervised process are QVC’s subsidiaries and entities outside of the US. The only exception is a non-operating subsidiary in Luxembourg that has no team members, customers, vendors or business partners.
The company’s global business operations are continuing as normal, including customer-facing operations in the UK, Germany, Japan and Italy, and paying vendors and suppliers as usual across all of these geographies.
“We have consolidated our HSN and QVC operations, struck new deals with critical social and media partners, and rebalanced sourcing to account for the changing tariff environment,” said David Rawlinson, president and chief executive of QVC Group. “We are uniquely positioned to compete and win in live social shopping, and are seeing early momentum in our WIN Growth Strategy.”
Launched in 2024, the WIN Growth Strategy aims to drive long-term growth and profitability by repositioning QVC as a cross-platform live shopping ecosystem, spanning social media, streaming services, e-commerce sites and traditional TV broadcast channels.
“We appreciate the ongoing support of our valued vendors and business partners, and we are grateful to our team members for their unwavering dedication to QVC Group and our customers,” concluded Mr Rawlinson. “The Chapter 11 process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”
News: TV shopping empire behind QVC, HSN files for bankruptcy amid mounting losses