QVC Group, the company that revolutionized live TV shopping since its launch in 1986, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for Southern Texas. This voluntary filing aims to facilitate a transition to live social media retailing, with CEO David Rawlinson stating that the restructuring will create a more suitable capital structure. The company plans to reduce its debt from $6.6 billion to $1.3 billion, while maintaining operations across its portfolio, which includes QVC, HSN, and Cornerstone Brands. During the bankruptcy process, expected to conclude this summer, QVC has assured stakeholders of its liquidity to meet obligations to vendors, suppliers, and employees. Notably, no layoffs are anticipated, and employees will continue to receive their wages and benefits without interruption. Rawlinson emphasized QVC's strong position in the evolving landscape of live social shopping, highlighting its success on platforms like TikTok Shop U.S. and its strategic partnerships in the media space. The company, which rebranded from Qurate Retail last year, has consolidated operations in West Chester, Pennsylvania, closing HSN's long-time headquarters in St. Petersburg, Florida.