End of a shopping era? QVC could be heading toward bankruptcy putting network’s future in peril
Popular shopping network in talks to file for bankruptcy
- Home-shopping network QVC is reportedly considering filing for Chapter 11 bankruptcy as it discusses voluntarily restructuring its substantial debt.
- The company, which owns QVC and HSN, has $6.6 billion in outstanding debt, including a credit facility maturing in October with $2.9 billion drawn.
- Following the report, QVC's stock price plummeted by approximately two-thirds of its value by Wednesday's market close.
- QVC faces challenges including a shrinking customer base, declining TV viewership, and the need to address tax liabilities, according to sources.
- The potential bankruptcy follows hundreds of layoffs in early 2025, despite the company's efforts to pivot towards live-streaming and social media shopping, including a partnership with TikTok.
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