West Chester-based QVC Group is on track to shed most of its debt and step out of bankruptcy with fresh financing to speed up its shift toward digital shopping, writes Jeff Blumenthal for the Philadelphia Business Journal.
A Houston bankruptcy judge approved the Chapter 11 reorganization plan for QVC and HSN’s parent company this month, rejecting a shareholder challenge and clearing the way for the company to emerge.
Under the agreement, QVC Group‘s debt drops from $6.6 billion to $1.325 billion, and the company gains access to a new $600 million credit line…