West Chester, Pennsylvania, April 17, 2026, 14:33 EDT
QVC Group filed for Chapter 11 in the Southern District of Texas on Thursday, aiming to slash its debt from $6.6 billion down to roughly $1.3 billion, according to court documents. The restructuring plan, backed by creditors, allows both QVC and HSN to keep operating.
The filing comes on the heels of the retailer’s annual report, which flagged “substantial doubt” about QVC’s ability to keep operating as a going concern. QVC breached a leverage covenant and has an October 2026 credit-facility maturity looming. The company entered bankruptcy with a prepackaged restructuring hammered out with key lenders, and expects a turnaround in roughly 90 days. QVC Group, Inc.
QVC said its Chapter 11 filings are limited to U.S. entities, with its customer operations in the UK, Germany, Japan, and Italy unaffected by the bankruptcy process. The company reported holding more than $1 billion in domestic cash at the close of 2025. No layoffs or furloughs are on the table, according to the statement, and QVC assured vendors and other standard creditors they’ll be paid in full, as it moves through routine court steps to keep wages and day-to-day business running.
The filing comes on the heels of a tough year. QVC Group posted an 8% drop in revenue for 2025, down to $9.23 billion, while net losses deepened—$2.398 billion, compared with $1.25 billion the previous year. Headcount at the end of the year stood at roughly 16,900, and the core QVC brand handled orders from about 10.3 million unique customers.
QVC is picking up momentum outside of traditional TV, with Chief Executive David Rawlinson describing the brand as “a top seller on TikTok Shop U.S.” Last year, the company merged its QVC and HSN operations at West Chester, shifting teams as part of that broader strategy. QVC Group, Inc.
This squeeze isn’t just about legacy TV shopping shows. QVC points to ShopHQ as a key rival in U.S. video commerce, but now it’s also contending with TikTok Shop and Amazon. With viewers moving away from cable, price checks online take seconds.
Even with a trimmed-down balance sheet, the relevance question lingers. Neil Saunders, managing director at GlobalData, called out that the filing could shore up QVC’s financials but “does not solve the need to reinvent and become relevant.” The company, for its part, has already alerted investors: both common and preferred shares are likely headed for cancellation, with no recovery in sight. AP News
QVC Group’s Class A stock slumped roughly 19% to $0.64 Friday afternoon. Management has flagged the shares as extremely speculative during Chapter 11. A delisting from Nasdaq appears imminent, likely kicking the stock down to the over-the-counter market.
