QVC Group files for bankruptcy but all brands to operate “as normal”
QVC has filed for Chapter 11 bankruptcy but reassured the wider business that all brands would continue to operate as normal.
As part of the move, the group said that in entering into the RSA with majority lender support, QVC Group’s principal amount of debt will be significantly reduced.
It hopes to bring the debt owed down to $1.3 billion from $6.6 billion and the business will emerge as Reorganized QVC, Inc.
The RSA outlines the terms of a comprehensive prepackaged financial restructuring plan that will substantially reduce the Company’s debt and strengthen its financial position as it continues advancing its transformational WIN Growth Strategy to drive long-term growth and profitability.
On keeping its respective brands operating as normal, QVC said the Company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured creditors of the filing entities to be paid in full for all goods and services.
There are also no planned layoffs or furloughs in connection with the financial restructuring process, and all team members should fully expect to continue receiving their wages and benefits without interruption.
The Company had over $1 billion in domestic cash and cash equivalents as of December 31, 2025.
David Rawlinson, president and CEO of the Group, explained how TikTok could be the company’s salvation.
He said: “QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy.
“Over the past year, we have become a top seller on TikTok Shop U.S. while expanding our business on streaming and other platforms. 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.”
He concluded: “We remain focused on serving our customers with joyful and engaging shopping experiences that inspire, entertain and delight. We appreciate the ongoing support of our valued vendors and business partners, and we are grateful to our team members for their unwavering dedication to QVC Group and our customers. This process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”
