QVC Group, the parent of home shopping networks QVC and HSN, filed for Chapter 11 bankruptcy protection Thursday in Texas as part of a prepackaged plan to sharply reduce its debt.
The West Chester, Pennsylvania-based company said the restructuring would cut funded debt from about $6.6 billion to $1.3 billion while allowing operations to continue as it shifts further toward live social shopping.
The filing follows a restructuring support agreement with a majority of QVC Group's lenders and is intended to move quickly.
The company said it is targeting emergence from Chapter 11 in roughly 90 days, and that vendors, suppliers and other general unsecured creditors will be paid in full or have their claims reinstated.
International operations, including customer-facing businesses in the United Kingdom, Germany, Japan and Italy, are not part of the U.S. proceeding; the only foreign entity included is a nonoperating Luxembourg subsidiary.
QVC Group disclosed the plan in a filing with the Securities and Exchange Commission late Wednesday, and CEO David Rawlinson framed the restructuring as a balance-sheet reset rather than a retreat.
"QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy," Rawlinson said, pointing to the company's expansion on TikTok Shop and streaming.
The operative problem is a legacy debt stack built for a cable-era business whose audience is moving elsewhere.
Traditional TV shopping has lost ground to livestreams on TikTok Shop, to shopping creators on YouTube and Instagram, and to low-cost goods shipped directly from Asia.
QVC Group said it acquired nearly 1 million new U.S. customers on TikTok Shop in 2025 and that sales attributed to its QVC+ and HSN+ streaming service grew 19% that year, but those gains have not offset the decline in linear viewing or serviced the existing debt load.
Chapter 11 allows the company to reorganize its finances while continuing to operate. QVC said on-air programming, websites, apps, retail stores and return policies are unchanged.
There are no planned layoffs or furloughs tied to the filing, and employee wages and benefits will continue without interruption, the company said.
Kirkland & Ellis and Gray Reed are serving as legal counsel, with Evercore as financial adviser and AlixPartners as restructuring adviser.
The bankruptcy caps a long downshift for a once-dominant cable property.
Liberty Media bought Comcast's roughly 57% stake in QVC for about $7.9 billion in September 2003, consolidating control of a network that had been a fixture of American cable since the 1980s.
Liberty Interactive, later renamed QVC Group, completed its acquisition of HSN in December 2017, bringing the two largest U.S. TV shopping networks under one roof. John Malone, the cable investor who built Liberty, remains chairman of QVC Group.
The next steps are procedural.
The company has filed customary first-day motions and expects prompt court approval to continue paying employees and operating during the case.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
© 2026 Newsmax. All rights reserved.