Media conglomerate QVC Group Inc. (QVCGA) said it has agreed with a majority of its lenders and initiated voluntary Chapter 11 bankruptcy protection proceedings in the U.S. to implement a plan to significantly reduce debts and strengthen its balance sheet. The company expects to cut its debt from about $6.6 billion to $1.3 billion under the plan, with the reorganized entity set to emerge as Reorganized QVC, Inc. The process is expected to be completed within roughly 90 days.
Operations across all brands, including QVC, HSN and Cornerstone Brands, continue as normal, with no planned layoffs or disruptions to employee pay, customer service, or vendor payments. International operations are not part of the Chapter 11 process, the company said in a statement QVC said it had over $1 billion in domestic cash and cash equivalents as of December 31, 2025, and expects sufficient liquidity to support operations during the restructuring.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.