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Stock impact report

QVC Group, Whose Networks Popularized Shopping On TV, Files For Chapter 11 Bankruptcy [Yahoo! Finance]

QVC Group, Inc. - Series A (QVCGA) 
Company Research Source: Yahoo! Finance
The voluntary filing in the U.S. Bankruptcy Court for Southern Texas was cited by company management as a way to help it transition from TV to live social media retailing via a restructuring program. The move is expected to provide “a more appropriate capital structure,” QVC Group CEO David Rawlinson said. Debt is projected to be reduced to $1.3 billion from $6.6 billion. More from Deadline Luxury Movie Theater Chain IPic Files For Chapter 11 Bankruptcy Protection Versant Execs Downplay Chance Of Acquiring More Linear TV Networks: "We're Very Happy With The Portfolio We Have" John Malone Stepping Down As Chair Of Liberty Media, Marking End Of An Era The company said its portfolio, which includes QVC, HSN, and Cornerstone Brands, is operating as usual across channels and platforms during the bankruptcy process, which is expected to wrap up this summer. QVC said it has “ample liquidity” to keep the business running, fulfill restructuring obligations to vendors, suppliers and Show less Read more
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