Q Talk

[They CallMe MRWILKES]

The Bankruptcy Court Judge overseeing QVC Group’s Chapter 11 case issued a major ruling in favor of QVC today.

QVC Group’s Plan of Reorganization was approved and claims and challenges brought by preferred shareholders were essentially dismissed. 

The Plan should now move forward with issuance of new equity to debtholders, followed by appointment of a new Board of Directors.  New equity is expected to be listed and trade on an exchange. 

"Upon emergence, the Company's total debt will be reduced from approximately $6.6 billion to $1.325 billion, and all vendors will have their claims paid in full or reinstated."

Any changes after that in terms of business operations remain to be seen!

[Lovestheshores]

Thank you @They CallMe MRWILKES.

[SurferWife]

I'm not sure I even understand what that means.  What happens to the other 5.275 billion in debt?  Is it just dismissed?

[They CallMe MRWILKES]

It's essentially exchanged for the value of new equity:

Old Debt = New Debt + Equity

[Tori3569]

I've just seen no fewer than 3 other posts where members are blaming some random issue on " the chapter 11" or "the bankruptcy "

Thank goodness the approval part is over now!  We shall see what the next focus of blame will be.

thanks @They CallMe MRWILKES  for sharing your info as always!  

[They CallMe MRWILKES]

I don't think changes have even started!

The new Board hasn't been installed yet and new ownership doesn't have their stock yet.

Of course,  management may be anticipating cost-cutting mandates and preparation could be underway.

[Tori3569]

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@They CallMe MRWILKES wrote:

I don't think changes have even started!

The new Board hasn't been installed yet and new ownership doesn't have their stock yet.

Of course,  management may be anticipating cost-cutting mandates and preparation could be underway.

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Oh yes, agreed!  I'm just glad the initial plan was approved.  Anything of course can still happen but even with changes, the company will still be in business 

[Estellee]

Good news for QVC and their customers thank you @They CallMe MRWILKES 

[Beammeupscotty]

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@Tori3569 wrote:

I've just seen no fewer than 3 other posts where members are blaming some random issue on " the chapter 11" or "the bankruptcy "

Thank goodness the approval part is over now!  We shall see what the next focus of blame will be.

thanks @They CallMe MRWILKES  for sharing your info as always!  

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YES!!!!   I think if someone twists an ankle on set it is the fault of the BANKRUPTCY!

[Sooner]

Until they get rid of the people at the top who chopped the hole in the bottom of the boat nothing will change, nothing will get better.

They went on a social mission and sunk a successful boat.  Got too proud of themselves and the brand and forgot the little buyers and watchers who made them successful.  Menopause Monday?  Really?  Women over 50?  What were they thinking?  Pretty low opinion of their female viewers I think if they thought this would appeal to them. . .