QVC Group Files Chapter 11, Aims 90-Day Debt Reduction
QVC Group, the parent company of QVC and HSN, filed for Chapter 11 bankruptcy in the Southern District of Texas and unveiled a restructuring plan to cut debt from about $6.6 billion to $1.3 billion under a restructuring support agreement, with a goal to emerge within 90 days. The plan says vendors and unsecured creditors will be paid in full, operations will continue with no layoffs, and the company will push growth via live/social shopping across platforms such as TikTok Shop and streaming partners as part of its WIN Growth Strategy.
