QVC Group, parent company of the QVC and HSN home shopping channels, filed for Chapter 11 after market close on Thursday, but said it hopes to emerge from bankruptcy within three months—and TikTok may be its salvation.
In a press release, QVC referred to the Chapter 11 filing as “prepackaged,” since it had reached a restructuring suppport agreement (RSA) with key debt holders before the filing, which should facilitate a smoother in-court process.
The company said it will continue to operate as usual during the restructuring, and expects the agreement to bring it back to profitability. As of Thursday, no workforce reductions are planned, according to QVC.
“We remain focused on serving our customers with joyful and engaging shopping experiences that inspire, entertain, and delight,” QVC Group president and CEO David Rawlinson said in the release.
“We appreciate the ongoing support of our valued vendors and business partners, and we are grateful to our team members for their unwavering dedication to QVC Group and our customers. This process will allow for QVC Group to have the financial structure it needs to accelerate our return to growth.”
The press release also stated: “The company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured creditors of the filing entities to be paid in full for all goods and services.”
QVC’s revenue has suffered over the years as cable TV viewership (and shopping) declined. However, one sign of life for the company has come from social media: In April 2025, QVC Group launched 24/7 livestream programming on TikTok and quickly became a top seller on TikTok Shop in the U.S.
QVC said it acquired over a million new customers on TikTok last year and expects that business to double in 2026. QVC’s streaming services have approximately 1.3 million monthly average users, the company said in its press release.
TikTok programming is part of the QVC Group’s three-year recovery initiative, named WIN—an acronym formed by the first letter in each strategy of the plan: Wherever She Shops, Inspiring People and Products, and New Ways of Working.
“The transformation is already showing measurable results,” the company said, noting that it had increased “its total customer file in 2025 for the first time in over four years…. Sales attributed to streaming grew 19% in 2025.
“A stronger balance sheet, together with revenue growth from social and streaming, is expected to enable QVC Group to stabilize and return to sustainable growth over time,” the statement said.
QVC Group filed for Chapter 11 in federal bankruptcy court for the Southern District of Texas, the same jurisdiction where Saks Global filed earlier this year. Only QVC’s U.S. subsidiaries are included in the proceedings; its international operations are not affected, the company said.
Pursuant to the RSA, the company’s principal amount of debt as of Dec. 31, 2025, will be reduced from approximately $6.6 billion to $1.3 billion. QVC Group said it had over $1 billion in domestic cash and cash equivalents as of Dec. 31. It also has set up a $300 million debtor-in-possession letter of credit facility with JPMorgan Chase.
Kirkland & Ellis LLP and Gray Reed are serving as the group’s legal counsel, Evercore as financial adviser, AlixPartners as restructuring adviser, and Joele Frank, Wilkinson Brimmer Katcher as strategic communications adviser.
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