QVC Group bankruptcy court confirms prepackaged chapter 11 reorganization plan
QVC Group, Inc. and affiliated debtors had their Second Amended Joint Prepackaged Plan of Reorganization confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on July 20, 2026. The company filed voluntary chapter 11 petitions on April 16, 2026, and pursued a prepackaged reorganization supported by holders of over 99% of RCF claims, 53% of QVC notes claims, and 46% of LINTA notes claims. Under the plan, RCF claimholders and QVC notes claimholders will receive their pro rata share of plan consideration consisting of distributable cash, takeback debt, and 100% of new equity interests; all existing equity interests including Series A common stock, Series B common stock, and 8.0% Series A Cumulative Redeemable Preferred Stock will be cancelled for no consideration; and LINTA notes claimholders will receive their pro rata share of distributable cash. After expiration or waiver of any applicable stay and satisfaction of conditions precedent, the company intends to emerge from chapter 11 protection.
- Bankruptcy Court entered Confirmation Order on July 20, 2026, confirming the Second Amended Joint Prepackaged Plan of Reorganization
- RCF Claimholders and QVC Notes Claimholders will receive their pro rata share of QVC Funded Debt Plan Consideration, consisting of QVC Distributable Cash, Takeback Debt and 100% of the QVC New Equity Interests, subject to dilution by the Management Incentive Plan shares
- All existing equity interests (Series A common stock, Series B common stock, and 8.0% Series A Cumulative Redeemable Preferred Stock) will be cancelled for no consideration on the Effective Date
- After giving effect to the Plan, 50,000,000 shares of common stock of Reorganized QVC are currently expected to be issued and outstanding
- Takeback Debt shall have an aggregate original principal amount of $1.275 billion, or $1.325 billion if the QVC Debtors obtain an Exit ABL Facility without a minimum draw condition
- Exit ABL Facility to be in an aggregate original principal amount of up to $750 million
- Petition Date was April 16, 2026
- Plan incorporated restructuring support agreement dated April 16, 2026, with holders of over 99% of RCF Claims, 53% of QVC Notes Claims, and 46% of LINTA Notes Claims
- Voting Classes (Class B3 RCF Claims, Class B4 QVC Notes Claims, Class C3 LINTA Notes Claims) voted to accept the Plan
- As of June 30, 2026, QVC Group had 7,911,869 shares of Series A common stock, 182,233 shares of Series B common stock, and 12,723,158 shares of 8.0% Series A Cumulative Redeemable Preferred Stock issued and outstanding
QVC's confirmation means the retail and digital commerce company will emerge from chapter 11 with a restructured capital structure featuring new equity ownership held by its lenders and approximately $1.275–$1.325 billion in new term debt, while existing shareholders are eliminated; the timeline and prepackaged nature minimize operational disruption.
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- 8-Kthis filing
Derived from 8-K filed 2026-07-24. Not investment advice. Figures are extracted from the filing; prose is AI-assisted. View the source filing on SEC.gov →