QVC Group has entered a Restructuring Support Agreement (RSA) with holders of a majority of the retailer’s outstanding debt — an agreement that will reduce QVC’s principal debt amount by 80%, from $6.6 billion to $1.3 billion.
The RSA will require QVC’s U.S. subsidiaries to enter voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. QVC’s international operations are not part of this process, and all U.S. companies will continue operating as usual. Following the reorganization, which QVC is forecasting will take approximately 90 days, the newly deleveraged company will emerge as Reorganized QVC, Inc.
QVC has been struggling in recent years as the social livestreaming space has grown more crowded. QVC’s own shift toward social media, including a growing presence on TikTok Shop, had not yet found traction in May 2025, following its November 2024 name change from Qurate Retail Group to QVC Group. For Q3 2025, the last period for which data is available, QVC’s revenue declined 6% compared to the same period the previous year.
To counter these trends, the company is in the midst of a three-year WIN Growth Strategy designed to reposition QVC Group to drive the future of live social shopping. The WIN strategy is focused on reaching customers Wherever She Shops, engaging customers with Inspiring People and Products and driving operating efficiencies with New Ways of Working (WIN).
The strategy is starting to show results: QVC acquired nearly 1 million U.S. customers on TikTok Shop in 2025, leading QVC U.S. to grow its total customer file for the first time in four years. The QVC+ and HSN+ streaming services now have 1.5 million monthly active users, and sales attributed to streaming grew 19% in 2025.
“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 David Rawlinson, President and CEO of QVC Group in a statement. “Over the past year, we have become a top seller on TikTok Shop U.S. while expanding our business on streaming and other platforms. We have consolidated our HSN and QVC operations, struck new deals with critical social and media partners and rebalanced sourcing to account for the changing tariff environment.”
