topic Re: Chapter 11 Update: Votes Are In! in Q Talk

Chapter 11 Update: Votes Are In!

They CallMe MRWILKES — Tue, 02 Jun 2026 09:57:00 GMT

For those who might have an interest in the status of the Chapter 11 proceedings:

Yesterday the formal tabulation of creditor votes was presented to the Bankruptcy Court. Since this was a pre-packaged plan, as you would expect the three classes of claim holders entitled to vote overwhelmingly approved the QVC Group reorganization plan.

Hearings on final confirmation will be held June 4th through June 9th if necessary.

The primary wrench in the plan are the Preferred Shareholders, who have petitioned the Court to allow them to present an alternative plan. Preferred Shares become worthless under the QVC Group plan, but they are demanding some recovery.

They propose unlocking some value from the Cornerstone Brands for their recovery, likely through a sale or spinoff.

We shall see, but I still think this will be concluded soon.

Rapid confirmation is important, since upon plan confirmation, the new equity owners can then appoint an entirely new Board of Directors and the future of the enterprise and potentially new management, whatever that may be, can begin.

Re: Chapter 11 Update: Votes Are In!

Estellee — Tue, 02 Jun 2026 11:59:48 GMT

Appreciate the update @They CallMe MRWILKES

Re: Chapter 11 Update: Votes Are In!

RescueLover — Tue, 02 Jun 2026 12:43:38 GMT

GREAT NEWS that the show will GO ON !! 🛍️🛍️🛍️

Hoping these businessmen are VERY Successful and start making a profit !!!
….

Also hoping and praying they don’t hold on to it for 6 months, shut it down, then write it off as a MAjOR business loss for tax purposes !! 😩

Re: Chapter 11 Update: Votes Are In!

Shanus — Tue, 02 Jun 2026 12:51:20 GMT

@They CallMe MRWILKES Hasn't Q had financial troubles several times before?

Re: Chapter 11 Update: Votes Are In!

RescueLover — Tue, 02 Jun 2026 13:34:06 GMT

@Shanus 🌸

This is the first time in The Q’s history that they filed Chapter 11 though.

Re: Chapter 11 Update: Votes Are In!

stevieb — Tue, 02 Jun 2026 14:16:54 GMT

One would have to wonder how, if the current board and management aren't ousted, any real recovery could occur and how long any marginal recovery might last. An entirely revamped operation is sorely indicated and has been for some time.

Re: Chapter 11 Update: Votes Are In!

They CallMe MRWILKES — Tue, 02 Jun 2026 16:01:44 GMT

I imagine that the new investors have something in mind. I don't know what it is, but it's certainly not the old, existing QVC business model of host-o-centric television broadcasting.

A new Board of their choice can install a new CEO and top division heads quickly.

I would not want to be an employee there right now. Something drastic is surely bound to happen.

Re: Chapter 11 Update: Votes Are In!

Estellee — Tue, 02 Jun 2026 14:36:03 GMT

Must be pretty stressful for everyone involved.

Re: Chapter 11 Update: Votes Are In!

Franklinbell — Tue, 02 Jun 2026 14:39:44 GMT

@They CallMe MRWILKES I agree! I think a major change is coming! It will be interesting to see what happens!

Re: Chapter 11 Update: Votes Are In!

RescueLover — Tue, 02 Jun 2026 16:11:38 GMT

Yes if any of You watched Mally’s show the other night she spoke about being sick and tired of all the stress and anxiety that everyone is dealing with.

All while encouraging customers to buy her denim jacket to bring Joy and Happiness into their lives.

Re: Chapter 11 Update: Votes Are In!

Caaareful Shopper — Tue, 02 Jun 2026 16:12:25 GMT

It could be my imagination, but seems to me that for the past few weeks most of the hosts appear to have ramped up their hosting “persona” as if re-auditioning for their job. Not just on air, but they’ve really amplified their social media presence and engagement as well.

I’ve noticed this for QVC, and especially for HSN. HSN hosts historically have done a pretty poor job in social media. But many hosts have really ramped it up lately.

They’re doing what they need to do to keep their job. I don’t blame them at all.

Re: Chapter 11 Update: Votes Are In!

They CallMe MRWILKES — Tue, 02 Jun 2026 16:29:30 GMT

I agree completely.

Hosts are "re-auditioning" for the social media, Tik-Tok selling environment.

Some veterans may succeed, but most will not. Newer hosts are experienced and prepared.

If you've seen Chelsea's fast-paced Closet show, that is what the future is. The small screen cramped, vertical environment is disastrous for some. No vast, furnished, elaborate sets with multiple models and camera angles.

Re: Chapter 11 Update: Votes Are In!

Tori3569 — Tue, 02 Jun 2026 16:36:35 GMT

I have a feeling the new leadership will reposition the company with new products but also higher prices. It always happens including a company I worked for that went through this. They need to pump up shareholder value asap. Can't even imagine what the reaction here will be.

Re: Chapter 11 Update: Votes Are In!

Caaareful Shopper — Tue, 02 Jun 2026 16:46:34 GMT

Some of the seasoned/veteran hosts are doing new shows and different video posts to show they still have range and can capture followers. Some have been successful, others — the jury’s still out

David has more jewelry shows coming up.

Alberti had his cooking show, and now I see on the Program Guide an upcoming ITKWD show hosted by both David and Alberti, together.

Recently, Leah has been doing really cute & funny dance routines with the models from her AM Style shows on her Instagram account.

Pat had a GRWM (Get Ready With Me) makeup tutorial video on her FB account last week.

Etc, etc.

Re: Chapter 11 Update: Votes Are In!

They CallMe MRWILKES — Tue, 02 Jun 2026 17:08:20 GMT

Needless to say, big changes are already underway!

What will posters complain about with no television broadcasting?

Many don't "do" Instagram or stream QVC+ or go near the Tik-Tok Shop.

Old QVC is dead. ....long live the New, deeply deleveraged QVC!

Re: Chapter 11 Update: Votes Are In!

ellaphant — Tue, 02 Jun 2026 17:18:44 GMT

I read a list of the millions owed to vendors iand it's astonishing. Multi millions owed to A Lessman.

Re: Chapter 11 Update: Votes Are In!

santorini — Tue, 02 Jun 2026 17:21:41 GMT

@ellaphant wrote:
I read a list of the millions owed to vendors iand it's astonishing. Multi millions owed to A Lessman.

What about the BILLIONS that are being "erased"? I wonder who got burned in that decision. Investors? Or vendors? That's a crazy amount. I still can't wrap my head around that much debt.

Re: Chapter 11 Update: Votes Are In!

They CallMe MRWILKES — Tue, 02 Jun 2026 17:44:33 GMT

Andrew will receive all $10 million owed as of April 16th.

The QVC Group plan pays all unsecured creditors (which are most vendors) every dime they are owed: accounts payable as of April 16th.

All unsecured vendor claims are unimpaired. The facts about the Chapter 11 are available to everyone, rather than myths and mistruths posted herein. Go to the Bankruptcy Court source for facts.

The primary, principal debtholders have already agreed to have most of the debt exchanged for equity in the New QVC Group.

It's a Balance Sheet Recapitalization! Debt is being moved to Equity.

Re: Chapter 11 Update: Votes Are In!

pdlinda — Tue, 02 Jun 2026 17:25:04 GMT

@ellaphant

REALLY! OMG! That never occurred to me that the vendors weren't being paid! I wonder where they are on the line to be made financially "whole?"

Re: Chapter 11 Update: Votes Are In!

pdlinda — Tue, 02 Jun 2026 17:28:11 GMT

@They CallMe MRWILKES

GOOD!

I wonder what the new recovery plan will be to make sure that after all the debts are paid, QVC never operates in the red again.