QVC Group (NASDAQ:QVCGA) has disclosed plans to seek Chapter 11 bankruptcy protection as part of a broader effort to restructure its debt of about $5 billion while continuing normal operations, rather than shutting down.
Shares of QVC fell more than 66% on the news.
The company said it expects to proceed as a debtor-in-possession and continue running its business during the court-supervised process, with a goal of emerging in roughly 90 days, though the timeline remains subject to court approval and creditor negotiations.
The filing is expected to be made in the US Bankruptcy Court for the Southern District of Texas.
The announcement comes amid sustained financial strain, including declining sales, reduced television viewership, and a heavy debt load. In its most recent annual reporting, QVC Group posted an operating loss of about $2 billion and a net loss of approximately $2.13 billion for fiscal 2025, while revenue fell 7.8% to $8.29 billion.
The results reflect continued weakness in its core retail and televised shopping business as consumer habits shift away from traditional home shopping formats.
Prior to the announcement, the company had already delayed financial statements and warned of “substantial doubt” about its ability to continue as a going concern. It was also reported to be in discussions with creditors regarding a potential voluntary restructuring, as pressure mounted from its debt obligations.
QVC Group also expects its listed debt securities to face market consequences following the filing, including potential delisting from the New York Stock Exchange and a shift to over-the-counter trading, which typically offers lower liquidity and can increase price volatility.