QVC Group Turns to Chapter 11 to Restructure Debt and Embrace Social Shopping

QVC Group, owner of QVC, HSN and Cornerstone Brands, filed for Chapter 11 bankruptcy to reduce debt from about $6.6 billion to roughly $1.3 billion and shift from traditional TV shopping to live social-media retail. The voluntary filing in U.S. Bankruptcy Court aims to secure a more appropriate capital structure while keeping operations running, with ample liquidity, no planned layoffs, and a restructuring expected to wrap up in the summer. The company is part of Liberty Media and has consolidated QVC and HSN operations in recent years.