Online retailer QVC Group has initiated voluntary Chapter 11 bankruptcy proceedings in the US after reaching a restructuring support agreement with most of its lenders.
The parent company of QVC and HSN said the deal sets out a prepackaged financial restructuring designed to significantly reduce debt and improve its balance sheet.
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The company said the process is intended to stabilise its financial position and enable a return to sustainable growth.
It added that all customer-facing activities, including retail outlets, broadcast programming and digital platforms, will continue without disruption.
QVC Group and certain US subsidiaries, including QVC, have filed for Chapter 11 in the US Bankruptcy Court for the Southern District of Texas.
Its international operations are not part of the proceedings.
Under the agreed plan, the company expects to reduce its debt from around $6.6bn as of 31 December 2025 to approximately $1.3bn.
The reorganised business is expected to emerge under the name Reorganized QVC, Inc.
QVC Group aims to complete the court-supervised restructuring within roughly 90 days.
Operations across its portfolio, including QVC, HSN and Cornerstone Brands, are continuing as usual.
The company stated that vendors, suppliers and general unsecured creditors are expected to be paid in full, while employee wages and benefits will remain unaffected.
QVC Group reported more than $1bn in domestic cash and cash equivalents at the end of 2025 to support ongoing operations during the restructuring process.
The filing comes amid structural changes in consumer behaviour, including declining engagement with traditional cable television and increasing adoption of mobile, social and streaming platforms.
The company said its three-year WIN Growth Strategy is centred on expanding live social shopping through digital channels.
In 2025, QVC US added nearly a million customers via TikTok Shop while its QVC+ and HSN+ streaming service reached 1.5 million monthly active users, with sales driven by streaming increasing by 19%.
QVC Group president and CEO David Rawlinson 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 US while expanding our business on streaming and other platforms.”
