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Parent company of QVC files for bankruptcy protection

By ,
today at 8:37 AM
Published 8:46 AM

WEST CHESTER, Pa. (NBC, KYMA) - The QVC group, the parent company of the QVC and HSN Shopping Channels, is filing for bankruptcy protection.

The Pennsylvania-based company disclosed its plans when it filed for Chapter 11 with the Security and Exchange Commission.

A published report said the company is dealing with a $6.6 billion debt, and the company's filing said it hopes to emerge from bankruptcy within 90 days.

QVC and HSN are both mainstays of the cable TV dial, but have struggled to adapt to consumers who are cutting subscriptions and shopping online.

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