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.”
More on Majors
The Latest
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
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.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
SourcingSep 14, 2026
Gemfields Sells All Lots at First Emerald Auction in 9 MonthsThe company’s managing director of sales said the results demonstrate “continued strong demand for commercial-quality emeralds.”
SourcingSep 14, 2026
Diamonds Do Good Pledges Support for Eye Care ProgramThe nonprofit awarded a grant to the Gift of Sight initiative spearheaded by South African musician Black Coffee.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
