QVC Group, which consists of home shopping TV brands HSN and QVC, is making big moves behind the scenes.
According to an annual report filed with the Securities and Exchange Commission on Tuesday, April 14, the company revealed that it intends to file for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas after reaching a restructuring agreement with creditors.
According to The Hollywood Reporter, Chapter 11 allows a company to continue operating while it is restructured. As a result, no immediate changes are expected for QVC and HSN shoppers.
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