QVC Group, whose networks pioneered the concept of live TV shopping in the 1980s, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for Southern Texas. The voluntary filing is intended to help the company transition from TV to live social media retailing via a restructuring program. The company's debt is projected to be reduced to $1.3 billion from $6.6 billion. No layoffs or furloughs are planned as part of the restructuring, and employees are expected to continue receiving their wages and benefits without interruption.