QVC Group, the parent company the home shopping TV brands HSN and QVC, will file for Chapter 11 bankruptcy protection.
The company disclosed the plan in a filing with the Securities and Exchange Commission.
“As of the Petition Date, we intend to operate our businesses as a debtor-in-possession under the jurisdiction of the Bankruptcy Court in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court,” the filing says. “QVC Group and QVC, Inc. intend to request approval from the Bankruptcy Court for a variety of ‘first day’ motions to continue our ordinary course operations during the Chapter 11 Cases. Although no assurance can be made as to a potential emergence date, QVC Group is targeting emergence from the Chapter 11 Cases within approximately 90 days.”
The specifics around the bankruptcy remain to be determined, though Chapter 11 allows a company to
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