QVC files for Chapter 11 bankruptcy. Here’s what it means for shoppers

QVCs parent company said it has voluntarily filed for Chapter 11 bankruptcy protection as it seeks to reduce billions of dollars in debt.

QVC Group Inc., which operates the home shopping television network, said it does not plan to lay off employees and intends to continue paying vendors during the restructuring process.

The company has faced challenges from declining TV viewership, increased online competition and tariffs that have affected sourcing costs.

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"QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy," President and CEO David Rawlinson said in a statement.

Rawlinson said the company has become a top seller on TikTok Shop in the U.S. over the past year while expanding its presence on streaming and other digital platforms. He added that QVC has consolidated operations with HSN, secured new partnerships with social and media companies and adjusted sourcing strategies in response to tariffs.

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With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy, Rawlinson said.

He added that the company remains focused on providing joyful and engaging shopping experiences and thanked vendors, partners and employees for their support.

This process will allow QVC Group to have the financial structure it needs to accelerate our return to growth, Rawlinson said.