MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameMajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEO
QVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
QVC Group has emerged from Chapter 11 bankruptcy with new financing and new leadership. The West Chester, Pennsylvania-based company owns both QVC and HSN.
West Chester, Pa.—QVC Group Inc. has exited Chapter 11 bankruptcy, completing its restructuring plan and emerging with a new temporary CEO.
The retailer, which filed in April, announced Thursday that it has reduced its debt by more than $5 billion and has access to a new $600 million asset-based lending facility led by funds managed by investment firms Strategic Value Partners and its affiliates, and Oaktree Capital.
The company also announced that President and CEO David Rawlinson is stepping down and will be succeeded by retail industry veteran and former QVC CEO Mike George.
George served as CEO of QVC Group, known then as Qurate Retail Group, from 2005 to 2021.
He will step in as interim CEO and chair of the board of directors, effective immediately, while the board searches for a permanent CEO.
“It has been a privilege to lead QVC Group over the past five years, and I am incredibly proud of the resilience, commitment, and execution our teams have demonstrated throughout that time,” Rawlinson said.
Rawlinson joined QVC Group in 2021, navigating several challenges, including a drop in the number of people who have cable, global tariffs, and a warehouse fire that affected its operations.
When filing for bankruptcy, the company cited its debt, 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.
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 …
The retailer, which filed in April, announced Thursday that it has reduced its debt by more than $5 billion and has access to a new $600 million asset-based lending facility led by funds managed by investment firms Strategic Value Partners and its affiliates, and Oaktree Capital.
The company also announced that President and CEO David Rawlinson is stepping down and will be succeeded by retail industry veteran and former QVC CEO Mike George.
George served as CEO of QVC Group, known then as Qurate Retail Group, from 2005 to 2021.
He will step in as interim CEO and chair of the board of directors, effective immediately, while the board searches for a permanent CEO.
“It has been a privilege to lead QVC Group over the past five years, and I am incredibly proud of the resilience, commitment, and execution our teams have demonstrated throughout that time,” Rawlinson said.
Rawlinson joined QVC Group in 2021, navigating several challenges, including a drop in the number of people who have cable, global tariffs, and a warehouse fire that affected its operations.
When filing for bankruptcy, the company cited its debt, 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.
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.
Rawlinson said his two goals as CEO were to stabilize the company and establish new growth platforms, expanding its live social shopping offerings.
“After successfully accomplishing both objectives, I believe it is the right time for me to step aside and pursue other transformative opportunities,” he said.
“Now, as I step down, I can think of no one better qualified to lead QVC Group than Mike George. Mike’s industry knowledge, sound judgment, and character make him the right leader to position the company well for continued success.”
George, who previously held leadership roles at Dell and McKinsey & Company, is also on the boards of AutoZone and Ralph Lauren, serves on the executive committee and is past chair of the National Retail Federation, and chairs the board of the National Constitution Center.
“I am energized by the opportunity to return to QVC Group at such an important moment in its journey,” he said.
“I am excited to work closely with the new board and current management team, and to reconnect with our team members, building upon the strong foundation that has been established. Together, we will continue to create innovative shopping experiences for customers and evolve the business to capture value for all of our stakeholders as the board searches for a permanent CEO.”
QVC Group also has appointed a new board of directors, with eight members from the retail and advisory sectors.
In addition to George, the new board members are:
The Michaels Companies CEO David Charles Boone;
Former leader of the TikTok Shop Nicolas Le Bourgeois;
Mattel’s former Global Head of Marketing and Media Jason Lee Horowitz;
Executive Chair and former David’s Bridal CEO James A. Marcum;
Former Pixar Chief Financial Officer Ann Mather;
McKinsey Senior Advisor Richard Andrew Mayfield; and
JZ Advisors LLC Managing Member Jonathan Seth Zinman.
Post-bankruptcy, the retailer’s common stock has been approved for trading on the Nasdaq under the symbol “QVCG.”
Editors' Picks
Sponsored by
More on Majors
The Latest
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
