Q Talk

[They CallMe MRWILKES]

You're right @stevieb 

Here's a partial list of the debtors, including all of those brands:

 QVC Group, Inc.
 Affiliate Distribution & Mktg., Inc.
 Affiliate Investment, Inc.
 Affiliate Relations Holdings, Inc.
 AMI 2, Inc.
 Ballard Designs, Inc.
 Cinmar, LLC
 Contract Décor, Inc.
 Cornerstone Brands, Inc.
 Cornerstone Shared Services, LLC
 Diamonique Canada Holdings, Inc.
 DMS DE, Inc.
 ER Development International, Inc.
 ER Marks, Inc.
 Frontgate Marketing, Inc.
 Garnet Hill, Inc.
 GC Marks, Inc.
 Home Shopping Network En Español, L.L.C.
 Home Shopping Network En Español, L.P.
 HSN Catalog Services, Inc.
 HSN Holding LLC
 HSN Improvements, LLC

[Puppy Lips]

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@They CallMe MRWILKES wrote:

Other vendors/brands among the top 30 Unsecured Claims are Skechers,  Corky's,  Rastelli, Diane Gilman. Joy Mangano, NYDJ, IHKWIP, Roberta's, WEN.....and UPS.

Interesting that Rakuten is owed $1 million.   I guess that explains why a number of my recent rebates from QVC/HSN have been delayed!

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@They CallMe MRWILKES So companies with unsecured claims may not get paid?  Or haven't been paid?

[They CallMe MRWILKES]

Unsecured Claims listed are the amounts due and unpaid as of the April 16th Petition Date.

As I mentioned above, the Bankruptcy Court has approved, today, payment of these Unsecured Vendor Claims.

[Puppy Lips]

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@They CallMe MRWILKES wrote:

Unsecured Claims listed are the amounts due and unpaid as of the April 16th.

As I mentioned above, the Bankruptcy Court has approved, today, payment of these Unsecured Vendor Claims.

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@They CallMe MRWILKES Thank you for the response.  I was reading the thread out of order and missed that you had already posted the answer to my question.

[Caaareful Shopper]

Today Antthony Hawkins, Antthony Designs on HSN, posted that he's still going ahead with his $30 million lawsuit against HSN and QVC Group, despite the Chapter 11 proceedings.  

Not to mention, okay I'll mention, HSN lost a lawsuit brought on by the Consumer Product Safety Commission. HSN  agreed to pay a $16 million civil penalty in 2023 for failing to immediately report safety defects that they were fully aware of (according to the CPSC) with the Joy Mangano-brand "My Little Steamer" products.

[Sweet Kitties]

If you haven't already built a non-perishable food pantry, feel sorry for you. Time to get going, leave the Q and stock up on food. Prices are high but they're going to get much higher. Im only sharing with my closest loved ones. All of you are on your own.

[RetRN]

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@Teddixat wrote:

@stellabystarlight    With all due respect, prices  are not coming down, on anything.  anywhere, anyplace.  That is just a fact of life,

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Markets are setting record highs and gas will be coming down. Don't be such a Debbie Downer. Let's stick to facts.

[Desert Lily]

If what I read is correct, the large reduction in debt was made possible by converting a major part of their debt into equity in the RSA. A debt for equity swap.

So, what does a Debt for Equity Swap mean?

I found the answer below on Investopedia:

If a company decides to declare bankruptcy, it has a choice between Chapter 7 and Chapter 11. Under Chapter 7, all of the business's debts are eliminated, and the business no longer operates.

Under Chapter 11, the business continues its operations while restructuring its finances. In many cases, Chapter 11 reorganization cancels the company's existing equity shares. It then reissues new shares to the debt holders, and the bondholders and creditors become the new shareholders in the company.

[ellaphant]

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@Caaareful Shopper wrote:

Today Antthony Hawkins, Antthony Designs on HSN, posted that he's still going ahead with his $30 million lawsuit against HSN and QVC Group, despite the Chapter 11 proceedings.  

Not to mention, okay I'll mention, HSN lost a lawsuit brought on by the Consumer Product Safety Commission. HSN  agreed to pay a $16 million civil penalty in 2023 for failing to immediately report safety defects that they were fully aware of (according to the CPSC) with the Joy Mangano-brand "My Little Steamer" products.

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QVC insurance pays for lawsuit judgements.

[ellaphant]

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@RetRN wrote:

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@Teddixat wrote:

@stellabystarlight    With all due respect, prices  are not coming down, on anything.  anywhere, anyplace.  That is just a fact of life,

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Markets are setting record highs and gas will be coming down. Don't be such a Debbie Downer. Let's stick to facts.

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Lets do stick to facts. Gas prices not going down any time soon.