QVC Group emerged from bankruptcy on August 6, cutting its debt from $6.6 billion to $1.325 billion, eliminating approximately $5.3 billion. The home shopping retailer, which also owned HSN, completed its prepackaged restructuring in under four months. CEO David Rawlinson left the company alongside the restructuring, with no successor announced yet. The company also secured a fresh $600 million credit line and plans to shift toward live social shopping on digital platforms.
Source: Read the original article
