QVC Group Files for Bankruptcy Amid Debt Reduction Plan
QVC Group, the parent company of QVC and HSN, has filed for Chapter 11 bankruptcy and aims to reduce its debt from $6.6 billion to $1.3 billion through a restructuring support agreement. The company plans to operate normally without layoffs and expects to emerge from bankruptcy within 90 days. The move comes as the company faces challenges from the rise of digital shopping.
Topics: bankruptcy debt reduction HSN media industry QVC restructuring