Shares of TV shopping network owner QVC Group plunged over 65% on Thursday morning as the company plans to file for Chapter 11 bankruptcy in Houston and overhaul more than $5 billion in debt.
The QVC and HSN parent’s move, which was revealed in a delayed annual filing with the U.S. Securities and Exchange Commission, comes after it reached a restructuring agreement with its creditors.
The company is aiming to emerge from the Chapter 11 process within approximately 90 days and intends to continue normal operations, but warned “no assurance can be made as to a potential emergence date.”
The plans come as QVC has been contending with inflationary pressures, tariff-related uncertainty and competition in the TV retail space from ShopHQ and JTV (Jewelry Television) in the U.S., Jupiter Shop Channel in Japan, HSE in Germany, TJC, Ideal World, Gems TV, Must Have Ideas TV and JML Direct in the U.K., including livestream shopping retailers and platforms, and mail-order and catalog companies.
It also competes with large department stores and specialty shops, e-commerce retailers, direct marketing retailers, wholesale clubs, discount retailers and infomercial retailers.
QVC Group’s QxH segment, which includes the main QVC and HSN channels as well as QVC2, QVC3 and HSN2, distributes 20 hours of live programming per day to approximately 82 million TV households in the U.S.
Its programming is also available through over-the-air broadcasting in designated U.S. markets that can be accessed by any household with a digital antenna, as well as on QVC.com and HSN.com, social media, virtual multichannel video programming distributors (vMVPDs) such as Hulu + Live TV, DirecTV Stream and YouTube TV, and applications via streaming video including Facebook Live, Roku, Apple TV, Amazon Fire, Xfinity Flex and Samsung TV Plus.
QVC Group also reaches approximately 126 million households outside of the U.S., primarily in Japan, Germany, the U.K., and Italy.
In 2025, approximately 90% of new QxH customers made their first purchase through the company’s digital platforms. The segment contributed $5.9 billion, or 72% of the company’s total revenue, and $517 million in adjusted operating income. Meanwhile, its international operations generated $2.4 billion, or 28% of total revenue, and $293 million in adjusted operating income.
Last year, the company consolidated its QVC and HSN operations at QVC’s Studio Park location in West Chester in an effort to reduce costs. As part of the reorganization, it cut 900 jobs in a pivot to “live social shopping.” QVC Group had 16,900 employees as of the end of 2025.
