QVC Group, Inc. — Representation of QVC Group, Inc. and its debtor affiliates (QVC) in their Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. QVC is a leading global live shopping and video commerce company, operating a portfolio of highly recognized brands, including QVC, HSN and Cornerstone. QVC commenced Chapter 11 to implement a comprehensive balance sheet restructuring transaction designed to reduce over $5 billion of its more than $8 billion in total liabilities and position the business for long-term growth. The transaction is supported by a broad consensus across the company’s key stakeholders and is anchored by a comprehensive intercompany settlement that simplifies a complex organizational structure, resolves intercompany claims and facilitates a value-maximizing restructuring. The cases are expected to result in a significantly deleveraged capital structure and enhanced financial flexibility to support QVC continued digital and omnichannel evolution.
