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QVC Group Files for Chapter 11 Bankruptcy
The retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
QVC Group Inc. announced Thursday that it has entered into a restructuring support agreement and commenced voluntary Chapter 11 proceedings. The retailer filed in U.S. Bankruptcy Court for the Southern District of Texas in Houston.
West Chester, Pa.—QVC Group Inc. has filed for Chapter 11 bankruptcy protection and entered into a restructuring support agreement (RSA), the company announced Thursday.
Through the RSA, QVC Group said it plans to substantially reduce its debt and strengthen its financial position to drive long-term growth and profitability.
It said it has “ample” liquidity to support the business, and the terms of the RSA will allow its unsecured creditors to be paid in full.
QVC Group brands will operate as usual with no planned layoffs.
“QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy,” QVC Group President and CEO David Rawlinson said.
“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. With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy.”
The retailer first announced its intention to file for bankruptcy in its Form 10-K (annual report), which it filed with the U.S. Securities and Exchange Commission on Wednesday.
QVC Group’s Series A and preferred stock shares are expected to be delisted from Nasdaq because of the bankruptcy proceedings, it said.
In a March 31 filing with the SEC, the company said it was unable to file its Form 10-K on time in light of ongoing discussions and negotiations with its lenders.
The company issued a “going concern” warning about its ability to continue operations.
In Wednesday’s filing, QVC noted that its credit facility will come due in October.
The retailer had a debt balance of approximately $6.60 billion as of Dec. 31, 2025, which will be reduced to $1.3 billion under the RSA, the company said Thursday.
QVC also mentioned increased competition and the costs related to some of its cost-saving measures, like consolidating QVC’s U.S. and HSN operations into one location, as adding to its financial woes.
It closed HSN’s campus in St. Petersburg, Florida, last year as part of its restructuring.
Layoffs followed, with the company cutting 900 jobs in the United States.
Related stories will be right here …
Through the RSA, QVC Group said it plans to substantially reduce its debt and strengthen its financial position to drive long-term growth and profitability.
It said it has “ample” liquidity to support the business, and the terms of the RSA will allow its unsecured creditors to be paid in full.
QVC Group brands will operate as usual with no planned layoffs.
“QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy,” QVC Group President and CEO David Rawlinson said.
“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. With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy.”
The retailer first announced its intention to file for bankruptcy in its Form 10-K (annual report), which it filed with the U.S. Securities and Exchange Commission on Wednesday.
QVC Group’s Series A and preferred stock shares are expected to be delisted from Nasdaq because of the bankruptcy proceedings, it said.
In a March 31 filing with the SEC, the company said it was unable to file its Form 10-K on time in light of ongoing discussions and negotiations with its lenders.
The company issued a “going concern” warning about its ability to continue operations.
In Wednesday’s filing, QVC noted that its credit facility will come due in October.
The retailer had a debt balance of approximately $6.60 billion as of Dec. 31, 2025, which will be reduced to $1.3 billion under the RSA, the company said Thursday.
QVC also mentioned increased competition and the costs related to some of its cost-saving measures, like consolidating QVC’s U.S. and HSN operations into one location, as adding to its financial woes.
It closed HSN’s campus in St. Petersburg, Florida, last year as part of its restructuring.
Layoffs followed, with the company cutting 900 jobs in the United States.
As part of its transformation, the company rebranded, changing its name from Qurate Inc. to QVC Group.
The company said the name change better highlights QVC, its largest brand, and supports the brand’s growth strategy as it aims to expand into a live social shopping company.
It also faced delisting from Nasdaq last year, leading to a reverse stock split.
QVC Group reported an 8 percent drop in sales in 2025 to $9.23 billion, with an operating loss of $1.29 billion.
Its net loss nearly doubled, up 92 percent year-over-year to $2.4 billion.
QVC reported that jewelry accounted for 5 percent of its offerings in 2025, unchanged from 2024.
Jewelry sales totaled $434 million, including $273 million in North America.
QVC Group ranked No. 25 on National Jeweler’s 2025 $100 Million Supersellers list, with an estimated $293 million in watch and jewelry sales in 2024.
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