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QVC shopping owner will file for bankruptcy protection

The owner of home shopping network pioneer QVC — which for years garnered the attention of millions of TV viewers looking for a deal on baubles and housewares, is planning to file for Chapter 11 bankruptcy protection.

A filing about imminent bankruptcy protection by parent company QVC Group, which also owns HSN, formerly the Home Shopping Network, arrives as long-running TV shopping networks struggle to adapt to the rapid shift by consumers now tuning in to livestreams on TikTok, or online marketplaces like Shein.

The West Chester, Pennsylvania, company has attempted to revive flagging sales for some time, which in 2024 were down almost 30% compared with its peak of more than $14 billion in 2020. Shares in QVC Group, which went for over $900 a decade ago, were trading for less than $3 earlier this week.

Founded in 1986 by Joseph Myron Segel, QVC, which is short for Quality Value Convenience, built a following primarily of women aged 50 and older. But that group has aged and is shrinking, and competition has increased substantially.

Consumers have increasingly dropped cable subscriptions and scheduled programming has been replaced by live platforms such as TikTok Shop, where consumers can buy products touted by influencers with tens of thousands of followers on Instagram and YouTube. Low-cost marketplaces like Shein and Temu are also commanding more attention.

QVC has significantly expanded its digital sales and expanded its presence on social media, but those maneuvers have fallen short.



(AP Photo Matt Rourke)
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