QVC Group, Inc., which previously filed voluntary petitions for relief under Chapter 11 in the Southern District of Texas, reports that the company and its affiliates have submitted required Monthly Operating Reports for their bankruptcy cases.
On July 31, 2026 each debtor entity filed a Monthly Operating Report containing financial information as of June 30, 2026 and for the period June 1–30, 2026, with QVC Group, Inc.’s report furnished as Exhibit 99.1 under Item 7.01 Regulation FD Disclosure.
The company states that these reports are unaudited, prepared solely to satisfy Bankruptcy Code requirements, cover periods different from Exchange Act reports, are subject to future adjustment, and should not be relied on as indicative of current or future consolidated financial condition or operating results. The information in Item 7.01 and Exhibit 99.1 is treated as furnished, not filed, and is not incorporated into Securities Act or Exchange Act filings unless specifically referenced.
QVC Group, Inc. reports that the U.S. Bankruptcy Court for the Southern District of Texas has entered a Confirmation Order approving the Second Amended Joint Prepackaged Plan of Reorganization for QVC Group and its debtor affiliates. After expiration or waiver of any stay and satisfaction or waiver of conditions, the company parties intend to consummate the transactions contemplated by the plan and emerge from chapter 11 protection.
As of June 30, 2026, there were 7,911,869 Series A common shares, 182,233 Series B common shares and 12,723,158 shares of 8.0% Series A Cumulative Redeemable Preferred Stock outstanding; on the plan’s Effective Date, all such equity interests will be cancelled, released, discharged and extinguished. After giving effect to the plan, 50,000,000 shares of common stock of Reorganized QVC are currently expected to be issued and outstanding, excluding shares reserved for future issuance. The plan provides for cancellation of existing QVC Notes and LINTA Notes in exchange for distributions specified in the plan. The company cautions that trading in its securities during the Chapter 11 Cases is highly speculative and that equity holders are expected to receive no distributions, with their interests cancelled for no consideration.
QVC Group, Inc. is operating under Chapter 11 in the Southern District of Texas and filed May 2026 Monthly Operating Reports for itself and affiliates. For QVC Group, Inc., cash at May 31, 2026 was $171,063,085 and total assets were $299,252,652 versus total liabilities of $1,418,068,055, resulting in negative equity of $1,118,815,403. The entity recorded a May loss of $17,291,070, including $15,181,300 of reorganization items, with no net sales.
The company notes these reports are unaudited, prepared for Bankruptcy Code reporting and may differ from U.S. GAAP financials. Separately, the U.S. Bankruptcy Court has confirmed QVC Group’s comprehensive, prepackaged restructuring plan, which will reduce total debt from approximately $6.6 billion to $1.325 billion and provide unimpaired treatment for all vendors. Upon emergence, all existing preferred and common shares will be cancelled, new common stock is expected, subject to approvals, to list under “QVCG,” and the reorganized company expects access to a new $600 million line of credit. Emergence and these changes remain subject to customary closing conditions.
QVC Group, Inc. furnished a Monthly Operating Report prepared for its Chapter 11 proceedings, providing unaudited financial information as of April 30, 2026 and for the period from April 16, 2026 through April 30, 2026. The report is attached as an exhibit under Regulation FD.
The company notes that it and certain affiliates are debtors in jointly administered Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. It emphasizes that the Monthly Operating Reports are required solely by the Bankruptcy Code, are unaudited, may be adjusted or reconciled later, and cover a shorter, different period than its Exchange Act reports, so they may not reflect consolidated results or future performance.
QVC Group, Inc. notified Nasdaq Stock Market LLC that its Series A Common Stock and 8.0% Series A Cumulative Redeemable Preferred Stock have been removed from listing and/or registration on Nasdaq pursuant to Rule 12d2-2. Nasdaq states it and the issuer complied with the Exchange rules governing voluntary withdrawal.
QVC Group, Inc. submitted an amendment to a Schedule 13G/A reporting zero beneficial ownership of Series A Common Stock as of April 17, 2026. The filing lists Jonathan H. Dorfman as the reporting person with 0 shares and 0% ownership, and discloses no voting or dispositive power.
QVC Group, Inc. disclosure: Jonathan H. Dorfman reports beneficial ownership of 655,300 shares of Series A Common Stock as of March 16, 2026. The position consists of 35,300 directly owned shares and 620,000 shares exercisable through exchange-listed call options. The filing states this equals 8.12% of the class based on outstanding share counts disclosed as of October 31, 2025.
QVC Group, Inc. Schedule 13G: Beneficial ownership disclosure by Jonathan H. Dorfman. As of March 16, 2026, Mr. Dorfman reports beneficial ownership of 415,250 shares of Series A Common Stock, equal to 5.15% of the class based on outstanding share counts disclosed as of October 31, 2025. The position comprises 35,250 shares owned and 380,000 shares exercisable upon listed call option exercises.
QVC Group, Inc. reported first‑quarter 2026 net revenue of $1,957 million, down from $2,105 million a year earlier, and a net loss attributable to shareholders of $47 million versus $100 million in 2025. Adjusted OIBDA declined to $126 million from $177 million, reflecting softer sales and higher selling, general and administrative costs.
The balance sheet remains highly leveraged, with total debt principal of $6,531 million and current liabilities exceeding total assets, driving a stockholders’ equity deficit of $3,235 million. QVC breached the net leverage covenant under its Credit Facility, and on April 16, 2026 the company and affiliates commenced Chapter 11 proceedings with a prepackaged restructuring plan.
The Restructuring Support Agreement covers approximately $2.2 billion of QVC Notes, $1.5 billion of LINTA Notes and $2.9 billion under the Credit Facility, and contemplates issuing about $1.3 billion of takeback debt and 100% of the equity in Reorganized QVC to certain creditors. Nasdaq has determined to delist the common and preferred shares, which the company expects to trade instead on an OTC market. Suspended dividends on the 8.0% Series A Cumulative Redeemable Preferred Stock have accumulated to about $120 million, and the dividend rate has stepped up to 9.5%, reinforcing substantial doubt about the company’s ability to continue as a going concern.
Charles Schwab Investment Management Inc. filed an amendment to a Schedule 13G reporting beneficial ownership of 383,482 shares of Series A Common Stock of QVC Group, Inc., representing 4.73% of the class as reported. The filing lists sole voting and dispositive power over the same 383,482 shares.
The amendment is labeled Amendment No. 3 with a document date 03/31/2026 and signature dated 05/13/2026. The filing states this position qualifies as ownership of five percent or less of the class.