Quick Facts
- QVC Group filed Chapter 11 bankruptcy to cut debt from $6.6 billion to $1.3 billion
- Revenue dropped 30% from 2020 peak of $14 billion to $10 billion in 2024
- Company plans to emerge from bankruptcy within 90 days with no customer disruptions
QVC Group filed for Chapter 11 bankruptcy Thursday in the U.S. Bankruptcy Court for the Southern District of Texas as part of a plan to slash more than $5 billion in debt. The TV shopping network owner seeks to reduce its total debt burden from $6.6 billion to $1.3 billion.
The West Chester-based company’s shares plunged over 65% Thursday morning following the bankruptcy announcement. QVC stock dropped from over $2.50 per share to around $0.84 this week.
Revenue has declined sharply since the pandemic peak. QVC’s sales fell from $14 billion in 2020 to $10 billion in 2024, a 30% drop. First quarter 2025 revenue declined another 10%.
The company warned investors it could not guarantee sufficient cash flow to fund operations. QVC employs about 15,300 people worldwide and laid off 900 staff in March 2025 as it shifted focus to social media platforms.
“QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy,” said CEO David Rawlinson. The company has become a top seller on TikTok Shop and acquired nearly 1 million new U.S. customers on the platform in 2025.
QVC’s streaming services now have 1.5 million monthly active users with sales growth of 19% in 2025. The company first launched on TikTok Shop in August 2024 and claims 74,000 creators have featured QVC items.
Traditional cable television decline has hurt QVC’s core business model. The company faces competition from social commerce platforms and online marketplaces as consumers shift viewing habits to mobile devices and streaming services.
QVC was founded in 1986 and merged with rival Home Shopping Network in 2017. The company is part of John Malone’s media empire, who bought QVC for $7.9 billion in 2003.
Craig Johnson of Customer Growth Partners said QVC “has been bleeding market share, and hemorrhaging cash — the victim of a brand rooted deeply in a bygone era.”
QVC targets emergence from bankruptcy within 90 days. All brands continue operating normally with no immediate changes for customers.
Read more: QVC Shopping Channel Files Bankruptcy to Cut $5 Billion of Debt
