The company, which owns the TV channels QVC and HSN, has been struggling with declining viewership, a $6.6 billion debt load and tax liability, according to the report.
QVC Group’s negotiations with creditors are ongoing, terms of a deal have not been set, and no final decision has been made about filing for bankruptcy, per the report.
QVC Group did not immediately reply to PYMNTS’ request for comment.
The company reported in a November earnings release that during the third quarter, its revenue decreased 6%, its operating income decreased 61% and its adjusted operating income before depreciation and amortization (OIBDA) decreased 32%.
“We reduced the year-over-year rate of revenue decline in our QxH segment despite the decline in linear television viewership, driven by revenue growth in our social and streaming channels,” QVC Group President and CEO David Rawlinson said in the release. “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.”
QxH is the company’s business segment that includes QVC US and HSN, according to its website.
QVC Group is scheduled to release its fourth-quarter earnings on Feb. 26.
PYMNTS reported in February 2025 that QVC Group was addressing challenges presented by a cautious consumer environment and rising competition by reducing debt and expanding its digital presence by focusing on the burgeoning trend of social commerce.
At the time, the company had just changed its name from Qurate Retail to QVC Group.
“We are moving faster to become a live social shopping company with a focus on balancing top line growth with margin and cash flow discipline,” Rawlinson said during the February 2025 earnings call. “Last Friday, we commenced our rebranding, changing our corporate name to QVC Group Inc, bringing the household name we are known for back into our everyday language.”
In July, QVC Group launched its QVC and HSN linear channels on Philo, a live TV streaming service with 1.3 million paid subscribers.
