QVC Group, Inc. sits at the confirmation stage of a prepackaged Chapter 11 in the Southern District of Texas (Case No. 26-90447, Judge Alfredo R. Perez), with confirmation hearings completed in early-to-mid June 2026 and the debtors awaiting entry of an order on a plan intended to eliminate more than $6 billion in funded debt and preferred equity obligations.
The debtors — QVC Group together with QVC, Inc., Liberty Interactive LLC (LINTA), QRI Cornerstone, Inc., and HSN affiliates — filed their prepackaged cases on April 16, 2026 Voluntary PetitionDkt. 1. The restructuring confronts a roughly $6.53 billion funded-debt stack arranged in three layers: a $2.9 billion first-lien revolving credit facility administered by JPMorgan Chase Bank, N.A. and about $2.15 billion of first-lien QVC, Inc. notes, both secured by QVC, Inc. stock, plus approximately $1.48 billion of unsecured LINTA notes and exchangeable notes Wafford DeclarationDkt. 4. The debtors attribute the deterioration to cord-cutting pressure on linear-television cash flows, inflation, and a December 2021 fire at the Rocky Mount distribution center that caused more than $500 million in lost revenue Wafford DeclarationDkt. 4.
The plan flows from a Restructuring Support Agreement backed by the bank group, the QVC notes group, and the LINTA notes group, and leaves general unsecured, trade, employee, and vendor claims unimpaired Wafford DeclarationDkt. 4. On the petition date the debtors sought authority to roll existing letter-of-credit exposure into a $300 million DIP letter-of-credit facility with JPMorgan, structured to backstop vendors and counterparties rather than to deliver incremental cash borrowing proceeds . The debtors amended the plan twice during the case and completed plan solicitation before confirmation.
The case has now moved into post-hearing housekeeping. Judge Perez held confirmation hearings on June 4 and June 10, 2026, and the parties continue to manage evidentiary and professional-disclosure matters, including an amended stipulated order admitting exhibits into the record Amended Stipulated OrderDkt. 574 and a supplemental AlixPartners disinterestedness declaration Mesterharm Supplemental DeclarationDkt. 573. No signed confirmation order or effective-date notice has been entered, leaving confirmation and emergence as the near-term milestones.
