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Home shopping network pioneer QVC planning to file for bankruptcy.
QVC Group plans to file for Chapter 11 bankruptcy protection after reaching a restructuring agreement.
KEY POINTS
- QVC's sales in 2024 dropped nearly 30% from their $14 billion peak in 2020.
- QVC and HSN are struggling as consumers shift to livestreams on TikTok and online marketplaces.
- QVC aims to exit bankruptcy before summer but warns funding availability remains unpredictable.
COMPANIES
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