QVC will stick with pre-bankruptcy turnaround strategy after emergence

WEST CHESTER, Pa. – QVC Group is another step closer to coming out of Chapter 11 now that the bankruptcy court has approved its prepackaged financial restructuring plan.

The retail company filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas in April, saying it planned to pay vendors claims and aiming to jettison $5.3 billon in debt.

QVC announced this morning that, upon emergence, its total debt will be reduced from approximately $6.6 billion to $1.325 billion, and all vendors will have their claims paid in full or reinstated.

The reorganized company will operate with a new $600 million line of credit for working capital and general corporate purposes after emergence.

Armed with fresh financing, the company will build on its WIN growth strategy – a three-year transformation plan launched in late 2024 to reposition QVC Group as a cross-platform, live social shopping ecosystem.

The initiative de-emphasizes traditional cable TV to focus on expanding live content on platforms such as TikTok Shop, streaming services (QVC+ and HSN+) and other digital outlets.

See also:

• QVC Group shrinks loss in Q1
• QVC owes more than $93 million to top unsecured creditors

“Today marks a significant turning point for our company and positions us to emerge from Chapter 11 ready to win in live social shopping,” said David Rawlinson, president and CEO, QVC Group, Inc. “With significantly less debt, we can focus on what matters most – creating uniquely inspiring live social shopping experiences for our customers.”

When the company filed Ch. 11 three months ago, it noted that the QVC+ and HSN+ streaming service had 1.5 million monthly active users. Sales attributed to streaming grew 19% in 2025, the company reported. In addition, QVC US gained nearly 1 million new U.S. customers on TikTok in 2025, marking the first growth in its customer file in over four years.

Once it exists bankruptcy, all of QVC Group’s existing shares of preferred and common stock will be cancelled pursuant to the restricting plan. The reorganized company’s newly issued shares of common stock will be listed on a national securities exchange under the symbol “QVCG” and the reorganized company will operate as a publicly traded company.

QVC Group owns six retail brands – QVC U.S., HSN, Ballard Designs, Frontgate, Garnet Hill and Grandin Road  – and holds some minority interests. The bankruptcy did not include QVC Group’s localized TV channels and digital platforms in Germany, Japan, the UK, and Italy.