QVC says it will file for bankruptcy
West Chester-based QVC Group says it plans to continue operating its businesses through the bankruptcy.
West Chester-based QVC Group announced Wednesday that it plans to file for bankruptcy. The news follows weeks of speculation about the shopping network’s financial distress.
The company announced its plans in its annual report filing with the U.S. Securities and Exchange commission. It had delayed filing the report twice, most recently noting “that there remains substantial doubt about the company’s ability to continue as a going concern.”
As of September, the company had more than $6 billion in debt, $2.9 billion of which was set to come due in October.
QVC Group plans to file cases in the U.S. Bankruptcy Court for the Southern District of Texas. As of Thursday morning, a search for “QVC Group” in online court records did not yield any results.
QVC plans to continue operating its businesses through the bankruptcy, according to the annual report. A Chapter 11 bankruptcy allows for the reorganization of debt, and does not mean a company is going out of business.
QVC Group said in the report that it hopes to emerge from bankruptcy within months.
A company spokesperson did not immediately return a request for comment.
The announcement marks a low point for the once-groundbreaking retailer, which has been selling clothes, home goods, accessories, and electronics on TV since 1986. QVC maintains a loyal following of longtime fans, mostly women, but has struggled to pull in younger customers amid increased competition from the likes of Amazon and TikTok Shop.
» READ MORE: Meet the QVC fans who have kept the shopping network alive
The company has expanded into online and social-media shopping, including as part of a deal with TikTok Shop.
Still, the last few years have been particularly turbulent for QVC Group, which owns QVC and HSN. The networks merged as part of a $2 billion deal in 2017.
In recent years, their combined revenue and operating income have plummeted, according to recent earnings reports, as they struggled to attract and retain customers: In 2020, when many people were stuck at home amid the pandemic, 11.6 million shoppers made a purchase on QVC or HSN. Customers fell off in the years that followed. As of September, 7 million people had bought merchandise on the networks in the past year.
At the same time, QVC Group had racked up $6.6 billion in debt, with $1.8 billion in cash or cash equivalents on hand, according to the report for the quarter ending in September.
In early 2025, company executives shuttered HSN’s studio in St. Petersburg, Fla., and consolidated the networks in West Chester. Hundreds of employees lost their jobs as a result.
This is a developing story and may be updated.
