QVC Channel Files Bankruptcy to Cut $5 Billion of Debt

Television shopping network QVC Group filed for bankruptcy Thursday as part of a plan to cut more than $5 billion of debt, as declining viewership and a shift to online retail weighed on sales and squeezed margins.

The company filed for Chapter 11 protection in the Southern District of Texas, part of a prearranged plan that will reduce its debt load to roughly $1.3 billion from about $6.6 billion and allow it keep operating, according to a statement. Vendors and other unsecured creditors are expected to be paid in full or have their claims left unchanged. The company said it had more than $1 billion in cash at the end of 2025 to fund ongoing operations.