QVC Group Files Chapter 11, Cuts $6.6 B Debt to $1.3 B
QVC Group filed for Chapter 11 and secured a restructuring support agreement to cut its $6.6 billion debt to $1.3 billion while maintaining normal operations of QVC and HSN channels. The company reported FY2025 revenue of $9.2 billion (down 9% year-over-year) and an $809 million operating loss in FY2024.
1. Chapter 11 Filing and Debt Restructuring
QVC Group and its subsidiaries filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas and executed a restructuring support agreement to reduce total debt from $6.6 billion to $1.3 billion. The filing lists both liabilities and assets between $1 billion and $10 billion and cites between 50,001 and 100,000 creditors.
2. Financial Performance Trends
Fiscal year 2025 revenue declined to $9.2 billion, a 9% drop from $10 billion in FY2024, while the company posted an $809 million operating loss for that year. The downturn reflected tariff pressures and a shift in consumer spending toward streaming and social-commerce platforms.
3. Operations and Workforce
Both QVC and HSN linear broadcasts, streaming services, and social media operations will continue uninterrupted with no additional layoffs planned after a 900-employee reduction in March 2025. Employees will remain fully paid, and suppliers and vendors will receive full payment throughout the restructuring process.
4. Digital Expansion and Streaming Growth
In 2025, QVC Group added nearly 1 million new U.S. TikTok Shop customers and expanded its QVC+ and HSN+ streaming service to 1.5 million monthly active users, driving a 19% increase in streaming sales. The company launched 24/7 live TikTok shops for both brands and consolidated operations to optimize social-commerce partnerships.