The QVC Group, which operates the popular QVC and HSN shopping channels, has filed for Chapter 11 bankruptcy.
The company has entered into a restructuring support agreement to reduce its debt from $6.6 billion to $1.3 billion, the QVC Group said in an April 16 news release. Both linear TV shopping channels, broadcast on TV and streamed, and other social media presences will continue operating as normal, the company said.
The QVC Group, which laid off about 900 employees, or 5% of its staff in March 2025, does not plan additional layoffs or furloughs. Employees will continue to be paid without interruption and suppliers and vendors will be paid in full, the company said in the news release.
“We remain focused on serving our customers with joyful and engaging shopping experiences that inspire, entertain and delight,” said David Rawlinson, QVC Group, Inc. president and CEO, in the news release. “We appreciate the ongoing support of our valued vendors and business partners, and we are grateful to our team members for their unwavering dedication to QVC Group and our customers. This process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”
In the Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas, QVC Group and subsidiaries list liabilities of between $1 billion and $10 billion, and assets of between $1 billion and $10 billion. The number of creditors is listed as between 50,001 and 100,000.
Why Is QVC Group Declaring Bankruptcy?
According to the bankruptcy filing, QVC’s fiscal year 2025 revenue was more than $9.2 billion — down 9% from $10 billion the previous year. QVC also posted an operating loss of $809 million in fiscal year 2024, which ended Dec. 31, 2024.
In addition to debt concerns, other business effects have included tariffs and the shift of online shopping increasingly to streaming services and social networks including TikTok. During 2025, the QVC Group acquired nearly 1 million new U.S. TikTok Shop customers — growing the company’s total customer file for the first time in more than four years. The QVC+ and HSN+ streaming service has grown to 1.5 million monthly active users, the company said, with sales attributed to streaming up 19% in 2025.
“Over the past year, we have become a top seller on TikTok Shop U.S. while expanding our business on streaming and other platforms,” Rawlinson said. “We have consolidated our HSN and QVC operations, struck new deals with critical social and media partners, and rebalanced sourcing to account for the changing tariff environment.”
The restructuring agreement has been in the works for months, QVC Group CFO Bill Wafford said in a court filing. The company hopes to emerge from the restructuring process in less than two months.
“Speed is key, particularly with the extensive creditor support for this balance-sheet restructuring,” Wafford said in the filing. “A prolonged chapter 11 would unnecessarily result in larger administrative claims and greater risk to customer and supplier confidence.”
QVC, which was founded in 1986 and is headquartered in West Chester, Pennsylvania, has more than 15,800 employees. QVC acquired competitor HSN in 2017. The company shipped more than 190 million units to customers in fiscal year 2025, according to the filing.
What Does QVC’s Bankruptcy Mean for Shoppers?
For now, nothing. On-air programming on the QVC and HSN channels “is continuing as normal and customers can continue to shop the Company’s brands as always on broadcast TV, on streaming and social, through branded websites and apps, in-store, and through catalogs,” the company said in the news release.
Branded credit cards, gift cards and credits are still good. Customer service remains operational and “return policies and procedures remain the same,” the company said.
“All QVC Group brands are operating as usual. The Company continues to serve its millions of customers across all channels and platforms for the QVC, HSN, and Cornerstone Brands,” the company said in a statement to USA TODAY.
The bankruptcy process, the company said, “will allow for QVC Group to have the financial structure it needs to continue its leadership in live social shopping across social platforms, streaming apps, ecommerce sites, stores and TV channels.”
Add a Comment