QVC filed for Chapter 11, citing nearly $6B in debt. The home shopping network plans to keep operating during restructuring.

QVC Group, the parent company the home shopping TV brands HSN and QVC, will file for Chapter 11 bankruptcy protection. The company disclosed the plan in a filing with the Securities and Exchange Commission.

QVC Group has filed for Chapter 11 bankruptcy protection as it struggles to adapt to changing consumer preferences and declining sales, aiming to restructure and emerge within 90 days.

QVC’s parent company said it has voluntarily filed for Chapter 11 bankruptcy protection as it seeks to reduce billions of dollars in debt.

The parent company of QVC and HSN is preparing to file for bankruptcy as it struggles to adapt to the growth of online shopping. QVC Group said it plans to file for Chapter 11 protection while working to restructure more than $5 billion in debt,

The parent company of QVC and HSN is preparing to file for bankruptcy as it struggles to adapt to the growth of online shopping.QVC Group said it plans to file for Chapter 11 protection while working to restructure more than $5 billion in debt,