Home shopping network pioneer QVC files for bankruptcy protection

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Home shopping network pioneer QVC files for bankruptcy protection

2026-04-18 00:42 Last Updated At：00:51

The owner of home shopping network pioneer QVC has filed for Chapter 11 bankruptcy protection.

The filing by parent company QVC Group, which also owns HSN, formerly the Home Shopping Network, arrives as long-running TV shopping networks struggle to adapt to the rapid shift by consumers now tuning in to livestreams on TikTok, or online marketplaces like Shein.

QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, said that its international operations are not included in the process. It has more than $1 billion in cash on hand and said that it has ample liquidity to meet its business obligations.

QVC Group added that all of its brands are operating as usual, including customer-facing operations in the UK, Germany, Japan, and Italy. It will continue to serve its customers across all channels and platforms for QVC, HSN, and Cornerstone Brands.

“Bankruptcy may allow the necessary restructuring to give QVC the room to operate with better financials. However, it does not solve the need to reinvent and become relevant,” Neil Saunders, managing director of GlobalData, said in a statement.

QVC Group has attempted to revive flagging sales for some time, which in 2024 were down almost 30% compared with its peak of more than $14 billion in 2020. Shares in QVC Group, which went for over $900 a decade ago, were trading for less than $3 earlier this week.

The company is looking to emerge from bankruptcy protection in about 90 days.

Pope urges Africa's youth to resist dual temptations of migration and corruption in Cameroon

DOUALA, Cameroon (AP) — Pope Leo XIV urged Cameroon’s young people on Friday to resist the temptation to migrate and instead work for the common good at home, as he called for morally upright citizens to combat corruption plaguing many African countries.

Leo highlighted two of the big problems facing the continent during a Mass and a meeting with students and faculty at the Catholic University of Central Africa: the corruption that keeps countries in poverty and the brain drain of their brightest children who leave rather than fight the corruption at home.

They’re themes Leo has highlighted during his visit to Cameroon, a mineral-rich Central African nation which has been ruled since 1982 by 93-year-old President Paul Biya, who last year secured an eighth consecutive term with a disputed election.

Friday marked the half-way point in Leo’s 11-day tour of four African nations. He leaves Saturday for Angola, another country blessed with oil and other natural resources, but where a third of the population lives on less than $2.15 a day.

“Africa, indeed, must be freed from the scourge of corruption,” Leo told the university students and their teachers in the capital Yaounde.

“The greatness of a nation cannot be measured solely by the abundance of its natural resources, nor even by the material wealth of its institutions,” he said. “No society, in fact, can flourish unless it is grounded in upright consciences, formed in the truth.”

Leo began the day celebrating Mass in the port city of Douala, Cameroon’s financial and economic hub on its western coast. The Vatican had expected as many as 600,000 would attend, but only around 120,000 made it.

Cameroonian organizers suggested that security limitations and closed roads may have prevented many people from getting to the field, which was located well outside of town next to the Japoma sports stadium.

Some of those who did make it had spent the night on the ground, battling mosquitoes. But they said they were willing to make the sacrifice for the pope.

“I wanted to offer this effort to the pope, to show him that what he is doing and what he wants to accomplish should truly come to life,” said Alex Nzumo, who arrived at the Mass on crutches.

The field was nevertheless buzzing with people singing, swaying and dancing as an announcer shouted “Habemus Papam!” (We have a pope!). The Latin phrase is used to announce the election of a new pope but in this case joyfully announced Leo’s arrival at the field, where young people ran to keep up with his popemobile as he looped through the crowds.

In his homily, delivered in French and English, Leo urged young people to look beyond the poverty and disillusionment many experience and instead look to the future with hope.

“Do not give in to distrust and discouragement,” he said. “Do not forget that your people are even richer than this land, for your treasure lies in your values: faith, family, hospitality and work.”

With a population of 29 million, Cameroon is an overwhelmingly young country, where the median age is 18. Catholics represent about 29% of the population, and the country is a major source of growth and priestly vocations for the church.

Leo had already offered words of encouragement to Cameroon’s youth, including in his opening speech to Biya, in which he demanded the “chains of corruption” in Cameroon be broken. But with Biya entrenched in power, Cameroon perhaps represents the most dramatic example of the tension between Africa’s youth and the continent’s many aging leaders.

Despite being an oil-producing country experiencing modest economic growth, young people say the benefits have not trickled down beyond the elites.

According to World Bank data, the unemployment rate in Cameroon stands at 3.5%, but 57% of the labor force aged 18 to 35 works in informal employment.

The dire economic outlook in Cameroon has led to significant brain drain and has strained an already understaffed health sector, as many doctors and nurses are leaving the country for more lucrative jobs in Europe and North America.

In 2023, about a third of trained doctors who graduate from medical school in Cameroon leave the country, according to the Ministry of Higher Education.

In his remarks at the university, Leo urged the students to resist the temptation to leave and to instead use their educations to improve life for themselves and their fellow citizens at home. Africa, he said, needs them.

“In the face of the understandable tendency to migrate — which may lead one to believe that elsewhere a better future may be more easily found — I invite you, first and foremost, to respond with an ardent desire to serve your country and to apply the knowledge you are acquiring here to the benefit of your fellow citizens,” he said.

Among the most pressing issues they must address, he warned, is the advance of artificial intelligence and how it is altering the very relationship of people with the truth. As digital environments replace human encounters, people resort to self-referential bubbles where polarization, conflict and fear can spread.

“What is at stake is not merely the risk of error, but a transformation in our very relationship with truth," he warned.

Associated Press writer Mark Banchereau in Dakar, Senegal contributed to this report.

Associated Press religion coverage receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.