QVC Group announces it intends to file for bankruptcy in long-awaited annual report
West Chester, Pennsylvania-based QVC Group plans to file for Chapter 11 bankruptcy, the company announced Wednesday, as it attempts to restructure $5 billion in debt.
The company, which owns both QVC and the Home Shopping Network (HSN), announced its plans in an annual report filed with the Securities and Exchange Commission. The bankruptcy news has dropped shares even further on Thursday.
In February, the company delayed the release of its 2025 end-of-year financial results and reports emerged that QVC Group may file for bankruptcy. The company's stock plummeted from over $11 a share to $3.74 between Feb. 9 and Feb. 10.
This week, QVC's share price dropped over 66% from over $2.50 a share to around $0.84 a share.
QVC said it would file in the Southern District of Texas Bankruptcy Court in Houston, and the filing would include motions that could permit the company to continue operating during the bankruptcy process.
During that time, the company will make efforts to improve its operations.
QVC is preparing to emerge from the bankruptcy process within 90 days, though it cautioned that "no assurance can be made as to a potential emergence date" and that there was a chance it could not emerge from bankruptcy. In that case, the company could cease operations, according to the report.
The company said it expects to be delisted from the Nasdaq stock exchange during the process.
The document says the company faces headwinds, including consumers shifting from television programming to social media and online video.
Last March, the company laid off 900 employees and announced it would close its St. Petersburg, Florida, campus, which was HSN's former headquarters. The company said it had a goal of building "the world's leading live social shopping content engine" and had a goal of becoming more active on social media and streaming.
About 16,900 employees worked for QVC Group as of the end of 2025, the report states.
