QVC INC

QVC, Inc. has filed its Monthly Operating Report (MOR) for the period ending April 30, 2026, detailing its financial condition and operations during its Chapter 11 bankruptcy case. The report indicates a cash balance of $338,095,102, with receipts of $189,546,732 and disbursements of $189,753,535 for the reporting period. The company reported a net loss of $34,598,764 and a significant net worth deficit of $856,708,689 due to total liabilities exceeding total assets. No professional fees were paid during this period.

QVC Group, Inc. and its affiliates initiated voluntary Chapter 11 cases on April 16, 2026, to restructure its capital structure, leading to an event of default on its debt instruments and the delisting of its 2067 and 2068 Notes from the NYSE. The restructuring plan involves issuing approximately $1.3 billion in takeback debt and distributing equity in the reorganized company. For the first quarter ended March 31, 2026, QVC reported a net loss of $25 million on $1,769 million in revenue, with operating income increasing to $56 million. The company also noted substantial doubt about its ability to continue as a going concern.

QVC, Inc. announced that NYSE Regulation has decided to delist its 6.375% Senior Secured Notes due 2067 (QVCD) and 6.250% Senior Secured Notes due 2068 (QVCC) from the New York Stock Exchange. Trading in these notes has been immediately suspended. This decision was made after QVC disclosed that it and certain affiliates had filed for Chapter 11 bankruptcy, with NYSE Regulation citing unsuitability for listing and uncertainty regarding the notes' value. The company does not plan to appeal the delisting.

QVC Group, Inc. and certain affiliates entered into a Restructuring Support Agreement on April 16, 2026. This agreement involves various holders of QVC Notes, Liberty Interactive LLC (LINTA) Notes, and lenders under the Credit Facility. The purpose of the agreement is to facilitate a restructuring of these debt instruments, which include senior secured notes, senior unsecured exchangeable debentures, and revolving credit commitments.

QVC, Inc. has filed its annual Form 10-K report for the fiscal year ended December 31, 2025, with the Securities and Exchange Commission. The company confirmed its compliance with all reporting requirements under the Securities Exchange Act of 1934 for the preceding 12 months. Additionally, QVC, Inc. is designated as a non-accelerated filer, and there is no publicly traded market for its common stock.