QVC Group Plans Chapter 11 Bankruptcy Filing

QVC Group, the parent company of the pioneering home shopping networks QVC and HSN, announced plans this week to file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The filing, detailed in the company's annual report to the Securities and Exchange Commission, follows negotiations with creditors aimed at restructuring more than $5 billion in debt while keeping operations running.

Headquartered in West Chester, Pennsylvania, QVC Group intends to enter a restructuring support agreement with key lenders and emerge from bankruptcy within about 90 days. The company, which will operate as a debtor-in-possession during the process, emphasized that it plans to seek court approval for motions to maintain ordinary business activities, including programming and customer service. As of Thursday, no formal filing had appeared in court records, but the disclosure ends weeks of speculation about the retailer's financial stability, including delayed annual reports that raised doubts about its ability to continue as a going concern.

The move comes amid persistent challenges for the 40-year-old company, founded in 1986 by Joseph Segel as...