Financing ·
Old QVC Group, Inc. emerged from Chapter 11 bankruptcy on August 6, 2026, following the confirmation of its…
QVCGAQVC Group, Inc.
Old QVC Group, Inc. emerged from Chapter 11 bankruptcy on August 6, 2026, following the confirmation of its prepackaged plan of reorganization. The company issued $1.24 billion in 10% First Lien Senior Secured Notes due 2032 and borrowed approximately $84.6 million in first lien senior secured term loans. It also established a $600 million asset-based revolving credit facility. All pre-petition equity interests, including common and preferred stock, were cancelled for no value. Approximately 50 million new shares of common stock were issued to holders of the cancelled QVC Notes and Credit Facility claims. The entire board resigned and was replaced by eight directors designated by creditors including GoldenTree, Oaktree, Strategic Value Partners, and Silver Point Capital. David Rawlinson II departed as CEO, and Michael George was appointed Interim Chief Executive Officer with a $5 million equity award package. QVC Group operates in the direct-to-consumer retail industry.