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QVC Is Facing Bankruptcy, in Talks to Restructure Debt: Report
Home-shopping company QVC Group Inc. is reportedly considering filing for Chapter 11 bankruptcy to address a significant debt burden and tax liability. The company, which operates QVC and HSN, has been in confidential talks with lenders regarding a potential debt restructuring agreement. This comes as QVC has faced challenges including diminishing TV viewership, a 66 percent stock plummet, and cost-cutting measures such as consolidating operations and laying off employees.