**QVC Group, Inc. Faces Financial Challenges, Plans Chapter 11 Filing**

QVC Group, Inc., formerly Qurate Retail, Inc., has reported a net loss of $2.398 billion for the year ended December 31, 2025, a significant increase from the $1.250 billion loss in the previous year. Total revenue decreased by 8.0% to $9.230 billion, with declines across all segments, including QxH (QVC U.S. and HSN), QVC International, and Cornerstone Brands, Inc. (CBI). The company attributes the revenue decline primarily to a decrease in units shipped, particularly within the QxH segment, and a slight decrease in the average selling price per unit.

The company's operating loss widened to $2.098 billion, compared to $809 million in 2024, largely due to substantial impairments of goodwill and intangible assets. Adjusted OIBDA, a non-GAAP measure, also decreased to $771 million from $1.103 billion in the prior year. In response to these financial challenges, QVC Group intends to commence voluntary cases under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas on or about April 15, 2026.

As a result of the upcoming scheduled maturity of the Credit Facility on October 27, 2026 and the Chapter 11 Cases, there is substantial doubt about the company's ability to continue as a going concern. As of December 31, 2025, QVC’s net leverage ratio, as calculated under the Credit Facility, was greater than 4.5 to 1.0, which constitutes a breach of the financial covenant under the Credit Facility. The company expects to receive a delisting notice from the Nasdaq Stock Market LLC, and trading of its shares of capital stock is expected to be suspended immediately. Following the suspension of trading on the Nasdaq Capital Market, the company expects its shares of capital stock to be quoted on the OTCID Basic Market or another over-the-counter market.

In an effort to address its financial situation, QVC Group has been implementing strategic initiatives, including Project Athens and the WIN strategy, aimed at stabilizing core businesses, expanding into video streaming commerce, and improving operational efficiency. These initiatives have involved organizational changes, workforce reductions, and the consolidation of operations, including the closure of the St. Petersburg, FL campus. The company is also focused on optimizing its digital platforms and enhancing customer engagement across various channels. As of December 31, 2025, QVC Group employed approximately 16,900 full-time and part-time employees.

About QVC Group, Inc.

QVC Group, Inc. operates in video and online commerce, primarily through its subsidiaries QVC and Cornerstone Brands. It offers a wide range of consumer products across categories like home, apparel, beauty, electronics, and jewelry via live TV, digital platforms, and international markets. The company emphasizes engaging shopping experiences, exclusive brands, and a scalable, cost-efficient business model focused on customer loyalty and multi-channel distribution.

This description was generated via AI from an annual report. Updated 8 months ago.

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