What you need to know about QVC entering Chapter 11 bankruptcy
What you need to know about QVC entering Chapter 11 bankruptcy
scripps news
QVC Group, which operates the popular shopping channels QVC and HSN, has filed for Chapter 11 bankruptcy protection.
QVC Group announced in an April 16 news release that the company has entered into a restructuring support agreement to reduce its debt from $6.6 billion to $1.3 billion. The company said its linear television shopping channel, with broadcast and streaming, and other social media presence will continue to operate as usual.
QVC Group laid off approximately 900 people, or 5% of its workforce, in March 2025, but has no plans for additional layoffs or furloughs. Employee salaries will continue to be paid without interruption, and suppliers and vendors will be paid in full, the company said in a news release.
“We remain focused on providing a fun and engaging shopping experience that brings inspiration, fun and joy to our customers,” David Rawlinson, president and CEO of QVC Group, said in a news release. “We are grateful for the continued 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 provide QVC Group with the financial structure it needs to accelerate our return to growth.”
In its Chapter 11 filing with the U.S. Bankruptcy Court for the Southern District of Texas, QVC Group and its subsidiaries list debts of $1 billion to $10 billion and assets of $1 billion to $10 billion. The number of creditors is listed as between 50,001 and 100,000.
Why will QVC Group declare bankruptcy?
According to the bankruptcy filing, QVC’s fiscal year 2025 revenue was more than $9.2 billion, down 9% from $10 billion a year earlier, the company reported. QVC also posted an operating loss of $809 million for its 2024 fiscal year, which ended December 31, 2024.
In addition to debt concerns, other business impacts include tariffs and the spread of online shopping to streaming services and social networks such as TikTok. During 2025, QVC Group added approximately 1 million new customers to its U.S. TikTok shop, increasing the company’s total customer count for the first time in more than four years. The company said its QVC+ and HSN+ streaming services have grown to 1.5 million monthly active users, and streaming revenue is expected to increase by 19% in 2025.
“Over the past year, we’ve become a top seller on TikTok Shop US while expanding into streaming and other platforms,” Rollinson said. “We have combined our HSN and QVC operations, signed new agreements with key social and media partners, and rebalanced our sourcing in response to the changing rate environment.”
QVC Group Chief Financial Officer Bill Wafford said in a court filing that the restructuring agreement has been in the works for several months. He said the company expects to emerge from the restructuring process within two months.
“Speed is key, especially given the broad creditor support for this balance sheet restructuring,” Wafford said in the filing. “Extending Chapter 11 would unnecessarily increase administrative claims and increase risks to customer and supplier confidence.”
Founded in 1986, QVC is headquartered in West Chester, Pennsylvania and has more than 15,800 employees. QVC acquired rival HSN in 2017. The company shipped more than 190 million units to customers in fiscal 2025, according to filings.
What does QVC’s bankruptcy mean for shoppers?
For now, nothing. On-air programming on QVC and HSN channels “continues as usual, and customers can continue to shop the company’s brands as usual across broadcast television, streaming and social, the brand’s websites and apps, in-store and through its catalogue,” the company said in a news release.
Branded credit cards, gift cards, and credits are still fine. Customer service remains operational and “return policies and procedures remain the same,” the company said.
“All QVC Group brands are operating as usual. We continue to serve our millions of customers across all channels and platforms across our QVC, HSN and Cornerstone brands,” the company said in a statement to USA TODAY.
The company said the bankruptcy filing “will ensure QVC Group has the financial structure necessary to continue its leadership in live social shopping across social platforms, streaming apps, e-commerce sites, stores and television channels.”
Mike Snyder is a national trends news reporter for USA TODAY. You can follow him on Threads, Bluesky, and X, and email him at: mike snyder & @mikegsnider.bsky.social & @mikesnider & msnider@usatoday.com.
