An iconic TV retailer plans to file for bankruptcy imminently, according to a report.
This comes as millions of Americans are battling the skyrocketing cost of fuel and energy amid the United States’ war with Iran.
Now, QVC Group announced plans to file Chapter 11 bankruptcy as it grapples with a heavy debt burden and declining viewership, according to a regulatory filing obtained by Bloomberg.
Chapter 11 bankruptcy allows businesses to restructure their debts while continuing to operate. During this time, companies can renegotiate payment plans with their creditors.
In the QVC Group filing, the company wrote that it plans to emerge from bankruptcy within 90 days.
However, the company warned that it had incurred “significant professional fees” in preparing for bankruptcy and that it could amass even greater costs throughout the proceedings.
“We cannot assure that cash on hand, cash flow from operations will be sufficient to continue to fund our operations and allow us to satisfy our obligations related to the chapter 11 cases,” the filing reads.
According to the document, the company plans to file in the Southern District of Texas.
In a press release detailing the brand’s financial results for the third quarter of 2025, QVC Group reported that its operating income had decreased by 61 percent.
“Although we are encouraged by the progress we are making, deleveraging from our total revenue decline, tariffs and other critical investments, pressured our adjusted OIBDA,” David Rawlinson, President and CEO of QVC Group, wrote in the release.
According to regulatory findings obtained by Bloomberg, QVC Group had amassed $6.6 billion in outstanding group debt as of September 30, 2025. Those figures included a credit facility that was expected to mature in October 2026.
In a November earnings call, Rawlinson also admitted that a decline in TV viewership was putting pressure on the business.
“Returning our company to growth continues to be difficult as challenges persist,” he said.
The CEO also said that the company was trying to reduce its reliance on goods from China as it monitored changes to tariff rates imposed by President Trump.
The development comes as millions of Americans struggle with rising costs caused by the war with Iran, which began on February 28.
At the start of February, gas prices stood at just $2.92 per gallon according to GasBuddy. By March 1, that figure had already risen to $3.7 per gallon.
The cost of gas had leaped again by April 1, as it climbed to $4.11 per gallon, GasBuddy reported.
Soaring gas prices have driven up prices, tightening already strained household budgets for people across the country.
QVC Group announced in a February press release that it would delay its fourth-quarter report.
QVC, which stands for Quality Value Convenience, was founded in 1986 in West Chester, Pennsylvania, where it remains headquartered.
The company is known for selling a wide range of products, including clothing and furniture, across its channels and through its app.
The Independent has contacted QVC for comment.
Taiwan's chipmaker TSMC reports 58% jump in profit, warns about Iran war impacts
UK in ‘worst-case scenario’ planning for food shortages as a result of Iran war
Gatorade, inventor of the sports drink, is getting a rebrand targeting non-athletes
Massive fire at oil refinery threatens Australia’s petrol supplies
Trump’s 250-foot ‘Triumphal Arch’ plans unveiled by White House
Trump consulted his personal ‘agent of chaos’ before posting Jesus meme: report
