An Accountant's Observation On QVC

Ronettes · ‎12-13-2022

While I was getting the taxes done this morning, I asked my accountant for her thoughts on the QVC situation.

She said many companies and corporations go through this process. Even if QVC does have to file Chapter 11 and go the bankruptcy route, etc., they would reorganize the corporation, getting rid of dead wood and anything unnecessary, streamline their stock and employees, and completely reconstruct so that they can move forward.

And coming from a professional, I believe she is correct and QVC will survive.

Which I'm very happy about!

Tinkrbl44 · ‎08-23-2010

@Ronettes wrote:
While I was getting the taxes done this morning, I asked my accountant for her thoughts on the QVC situation.
She said many companies and corporations go through this process. Even if QVC does have to file Chapter 11 and go the bankruptcy route, etc., they would reorganize the corporation, getting rid of dead wood and anything unnecessary, streamline their stock and employees, and completely reconstruct so that they can move forward.
And coming from a professional, I believe she is correct and QVC will survive.
Which I'm very happy about!

@Ronettes

Your CPA is correct. A LOT of companies need to go through a financial restructuring, with an eye to the future. It puts them on a firmer footing.

While the financial restructuring is one thing .... I hope they will also do a serious re-evaluation of their Sales and Marketing strategies ... and get rid of 2 of the 3 channels they have. That never made sense to me.

kaydee50 · ‎02-07-2011

They will survive (probably) but not in their current form.

Ronettes · ‎12-13-2022

@Tinkrbl44 wrote:
@Ronettes wrote:
While I was getting the taxes done this morning, I asked my accountant for her thoughts on the QVC situation.
She said many companies and corporations go through this process. Even if QVC does have to file Chapter 11 and go the bankruptcy route, etc., they would reorganize the corporation, getting rid of dead wood and anything unnecessary, streamline their stock and employees, and completely reconstruct so that they can move forward.
And coming from a professional, I believe she is correct and QVC will survive.
Which I'm very happy about!

@Ronettes

Your CPA is correct. A LOT of companies need to go through a financial restructuring, with an eye to the future. It puts them on a firmer footing.

While the financial restructuring is one thing .... I hope they will also do a serious re-evaluation of their Sales and Marketing strategies ... and get rid of 2 of the 3 channels they have. That never made sense to me.

I agree - and I thought they only had 2 channels?

Wow, 3 is stretching it!

manny2 · ‎05-24-2010

@kaydee50 wrote:
They will survive (probably) but not in their current form.

I agree @kaydee50 QVC’s situation is more serious than a routine corporate cleanup. Reports show they are working with advisors on how to handle over $6 billion in debt, and Chapter 11 is one option being discussed. If they do file, they would continue operating, but they would have to reorganize and make major changes to stay relevant. Declining viewership, stock losses, and multiple layoffs mean QVC cannot survive by staying the same. Reorganization is possible, but it will require real change.

Ronettes · ‎12-13-2022

@manny2 wrote:
@kaydee50 wrote:
They will survive (probably) but not in their current form.

I agree @kaydee50 QVC’s situation is more serious than a routine corporate cleanup. Reports show they are working with advisors on how to handle over $6 billion in debt, and Chapter 11 is one option being discussed. If they do file, they would continue operating, but they would have to reorganize and make major changes to stay relevant. Declining viewership, stock losses, and multiple layoffs mean QVC cannot survive by staying the same. Reorganization is possible, but it will require real change.

Which is exactly what I said.

Reorganization and Reconstruction.

Sheesh!

tansy · ‎01-02-2011

Was your accountant a QVC customer, @Ronettes?

Desertdi · ‎03-13-2010

I worked the credit desk at a major wholesale supplier. Any customer who is in bankruptcy...has a credit line of CASH ONLY.

That means "Uncle Sam's Greenbacks". NO checks, promissory notes, partial payments, etc. Our salesman will be happy to pick it up at your door...even drive you to the bank.

♥Surface of the Sun♥

drizzellla · ‎03-14-2010

@Ronettes wrote:
@Tinkrbl44 wrote:
@Ronettes wrote:
While I was getting the taxes done this morning, I asked my accountant for her thoughts on the QVC situation.
She said many companies and corporations go through this process. Even if QVC does have to file Chapter 11 and go the bankruptcy route, etc., they would reorganize the corporation, getting rid of dead wood and anything unnecessary, streamline their stock and employees, and completely reconstruct so that they can move forward.
And coming from a professional, I believe she is correct and QVC will survive.
Which I'm very happy about!

@Ronettes

Your CPA is correct. A LOT of companies need to go through a financial restructuring, with an eye to the future. It puts them on a firmer footing.

While the financial restructuring is one thing .... I hope they will also do a serious re-evaluation of their Sales and Marketing strategies ... and get rid of 2 of the 3 channels they have. That never made sense to me.

I agree - and I thought they only had 2 channels?
Wow, 3 is stretching it!

Yesterday for the FIRST time I realized that QVC had 3 channels! I thought they had 2 until yesterday.

manny2 · ‎05-24-2010

@Ronettes wrote:
@manny2 wrote:
@kaydee50 wrote:
They will survive (probably) but not in their current form.

I agree @kaydee50 QVC’s situation is more serious than a routine corporate cleanup. Reports show they are working with advisors on how to handle over $6 billion in debt, and Chapter 11 is one option being discussed. If they do file, they would continue operating, but they would have to reorganize and make major changes to stay relevant. Declining viewership, stock losses, and multiple layoffs mean QVC cannot survive by staying the same. Reorganization is possible, but it will require real change.
Which is exactly what I said.
Reorganization and Reconstruction.
Sheesh!