QVC Group’s U.S. entities have filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas, moving forward with a pre-arranged restructuring plan designed to streamline its balance sheet and exit the process within 90 days.
The plan, agreed with a majority of lenders after months of negotiations, will cut the company’s debt significantly, reducing principal obligations to $1.3 billion from approximately $6.6 billion.
The filing applies only to QVC’s U.S. operations and one non-operating subsidiary in Luxembourg. International businesses in the U.K., Germany, Japan and Italy will continue operating as usual, paying suppliers without disruption.
Even in the U.S., the company said customer-facing operations will remain largely unaffected. With more than $1 billion in cash on hand, QVC does not expect layoffs or furloughs, and employees will continue receiving pay and benefits as normal. The company also stated that unsecured creditors will be paid in full or reinstated.
In court filings, CFO Bill Wafford acknowledged the company’s pioneering role in live shopping through both QVC and HSN, but said shifting consumer behaviour has eroded the model’s financial foundation.
Related Story
While the business still benefits from strong customer loyalty, with more than 90% of sales coming from repeat buyers, the decline of linear television and the rise of e-commerce and social media have weakened the cash flows that historically supported its capital structure.
QVC has begun adapting to these changes, launching a 24/7 live-streaming service and expanding into social commerce. The company acquired more than 1 million new customers via TikTok in 2025, with that channel expected to grow further this year.
Across its streaming platforms, QVC Group now reaches around 1.3 million monthly users, reflecting its shift toward digital engagement.
Wafford said the company is well positioned to compete in the evolving live shopping landscape, citing its content production capabilities, vendor relationships, distribution network and established brand recognition.
The restructuring is intended to give QVC the financial flexibility to accelerate its transition toward digital commerce, while maintaining its core strengths in live product storytelling.
With a global workforce of more than 15,800 employees and operations spanning seven countries, the company is aiming to reposition itself for growth in a market increasingly shaped by streaming and social-first retail experiences.
Click here to sign up to Retail Gazette‘s free daily email newsletter
