QVC Group, the parent company of HSN and QVC, plans to file for Chapter 11 bankruptcy protection. The company plans to operate its businesses as a debtor-in-possession under the jurisdiction of the Bankruptcy Court. The bankruptcy is part of the John Malone media empire, which bought HSN for $7.9 billion in 2003 and subsequently folded in Home Shopping Network in 2017. Despite laying off 900 staff a year ago, QVC has been shifting towards live shopping on social platforms like TikTok.