The parent company behind the well-known shopping channels QVC and HSN has filed for Chapter 11 bankruptcy. QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, announced the filing in a press release Thursday, saying the company will undergo a Restructuring Support Agreement (RSA) to reduce its debt from $6.6 billion to $1.3 billion.The goal of the RSA is to emerge from bankruptcy within 90 days. "The Company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured cred...
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