QVC-Bankruptcy Protection
FILE - Corporate signage is shown outside a QVC facility in West Chester, Pa., Friday, July 7, 2017.
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NEW YORK (AP) — The owner of home shopping network pioneer QVC — which for years garnered th…
The owner of home shopping network pioneer QVC has filed for Chapter 11 bankruptcy protection. The filing 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. QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, said that its international operations are not included in the process. It has more than $1 billion in cash on hand and said that it has ample liquidity to meet its business obligations.
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