QVC Group Announces Bold Steps to Restructure Debt and Strengthen Financial Position

QVC Group has entered into a Restructuring Support Agreement (RSA) with holders of a significant majority of its outstanding funded debt. Under this agreement, the company plans to reduce its principal debt from approximately $6.6 billion to $1.3 billion. This substantial deleveraging is expected to position the company for long-term growth and profitability.

David Rawlinson, President and CEO of QVC Group, emphasized the company's unique position to thrive in the evolving live social shopping market. "With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy," he stated, highlighting recent successes such as becoming a top seller on TikTok Shop U.S. and expanding into streaming services.

Despite the restructuring process, all QVC Group brands, including QVC, HSN, and Cornerstone Brands, will continue to operate normally. The company has reassured stakeholders that it has ample liquidity to meet business obligations and that vendors, suppliers, and general unsecured creditors will be paid in full for goods and services provided. Importantly, there are no planned layoffs or furloughs, and employee wages and benefits will remain uninterrupted throughout this period.

QVC Group's restructuring is an integral part of its three-year WIN Growth Strategy, which focuses on adapting to the changing landscape of consumer shopping habits. The strategy emphasizes reaching customers Wherever She Shops, providing Inspiring People and Products, and implementing New Ways of Working for operational efficiency.

The early results of this strategy are promising, with QVC Group acquiring nearly 1 million new U.S. customers on TikTok Shop in 2025 and achieving a 19% increase in sales attributed to streaming services. The company’s QVC+ and HSN+ streaming service has attracted 1.5 million monthly active users, signaling a successful pivot towards digital and social platforms.

With over $1 billion in domestic cash and cash equivalents as of December 31, 2025, QVC Group is well-positioned to navigate the bankruptcy process. The company anticipates completing its restructuring within approximately 90 days, allowing it to emerge as a stronger entity focused on sustainable growth.

The restructuring process is expected to stabilize QVC Group's financial footing and pave the way for future revenue growth, particularly from its social and streaming ventures. The company is also committed to maintaining its customer service levels and ensuring that all retail locations remain operational during this transition.

QVC Group's proactive approach to addressing its financial challenges through a structured restructuring plan demonstrates its commitment to long-term viability and growth in the competitive retail market. As the company embarks on this transformative journey, it aims to solidify its position as a leader in live social shopping, leveraging new technologies and platforms to enhance customer engagement and drive sales.

The coming months will be critical for QVC Group as it implements its WIN Growth Strategy and strives to return to a path of sustainable profitability.