QVC parent company files bankruptcy

The bankruptcy filing aims to restructure the company's finances while maintaining its broadcast and online sales operations.

QVC and HSN have been mainstays of home shopping for nearly four decades, but have faced increasing competition from e-commerce giants and social media platforms.

Management stated that the move is a necessary step to ensure the long-term viability of the brands.

Customers have been assured that shipping and returns will continue as normal during the legal process.