QVC to file for bankruptcy

The owner of the iconic QVC and HSN shopping networks revealed in federal filings that it will soon seek bankruptcy protection.

The company has faced significant headwinds from the rise of social media influencers and platforms like TikTok and Temu, which have drawn away its traditional audience.

QVC stated that it plans to continue normal operations throughout the proceedings, but warned that current cash flow may not be sufficient to fund long-term debt payments.

The move marks a major turning point for a brand that once dominated the direct-to-consumer retail market.