TV Network QVC may be heading toward bankruptcy, leaving the once-popular home-shopping network’s future up in the air, according to a report.
The shopping channel has been in talks to voluntarily restructure its debt, which could include filing Chapter 11 bankruptcy, sources told Bloomberg. No final decision has been made about filing for bankruptcy, Bloomberg reported. QVC did not immediately respond to requests for comment from The Independent.
In September, QVC Group had $6.6 billion of outstanding debt, including a credit facility that matures in October. That loan has $2.9 billion drawn on the facility, according to the report.
Following Bloomberg’s report on Wednesday, the retailer’s stock price tumbled, losing about two-thirds of its value by the market’s close.
In the days before online shopping boomed, QVC allowed shoppers to make purchases from the comfort of their own home, selling a wide range of clothing, electronics, beauty products and more. All viewers had to do was call in and then their purchases would be shipped to their door. The channel was founded in 1986 and became an early pioneer in cable television.
Now, QVC faces a shrinking customer base as its debts mount, according to the report. The network, which owns TV channels QVC and HSN, will also need to tackle tax liability, people familiar with the matter told Bloomberg.
During a November earnings call, Chief Executive Officer David Rawlinson said the decrease in TV viewership was putting pressure on the business, according to the report.
“Returning our company to growth continues to be difficult as challenges persist,” he said.
News of a potential bankruptcy comes after the West Chester, Pennsylvania-based company laid off hundreds of employees in early 2025, The Philadelphia Inquirer reported.
At the time, the company said it was going to focus on live-streaming and social-media shopping to try and keep up with newcomer TikTok shop. However, by May of last year, the company entered an agreement with TikTok, which Rawlinson said would create “the first 24/7 live shopping experience in the U.S.”
In August, a company spokesperson said there were plans to hire about 250 employees by early 2026. It was unclear if those hires were made, according to the Inquirer.
QVC Group is set to release its fourth quarter 2025 earnings report later this month.
