QVC Group exits Chapter 11 with $1.3B in new debt, wiping out all prior equity
QVCPQ is trading near its 52-week low of $0.063 (4.3% below the low) on elevated volume (2.0× avg).
Summary
QVC Group completed its Chapter 11 restructuring, cancelling all existing equity and issuing $1.3 billion in new debt. Creditors now own 100% of the reorganized company.
Key Events · Legal and Risk Events · QVCPQ
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Chapter 11 Emergence Effective
The Plan Effective Date occurred on August 6, 2026, marking the company's emergence from Chapter 11 bankruptcy.
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Existing Equity Cancelled
All outstanding shares of Old Common Stock and Old Preferred Stock were cancelled for no value, wiping out existing shareholders.
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New Debt Issued
The reorganized company issued $1.24 billion in 10% First Lien Senior Secured Notes due 2032 and borrowed $84.6 million in term loans, plus entered a $600 million revolving credit facility.
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Creditors Take 100% Ownership
Approximately 50 million shares of New Common Stock were issued to former creditors — 21.4 million to QVC Notes Claimholders and 28.6 million to RCF Claimholders — giving them full ownership of the reorganized entity.
Analysis · QVCPQ · Trade & Services
On August 6, 2026, Old QVC Group emerged from bankruptcy by implementing the prepackaged plan confirmed last month. The restructuring brings a fresh start but also significant new leverage: the company issued $1.24 billion in 10% first-lien notes, borrowed $84.6 million in term loans, and secured a $600 million revolving credit facility. All existing equity—including Series A and B common stock and preferred stock—was cancelled for no value, representing a total loss for prior shareholders. In exchange, creditors received approximately 50 million shares of new common stock, taking 100% ownership of the reorganized entity. A new board and interim CEO Michael George were installed to lead the company forward.
At the time of this filing, QVCPQ was trading at $0.06 on OTC in the Trade & Services sector, with a market capitalization of approximately $239.9K. The 52-week trading range was $0.06 to $9.50. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.