QVC Group — the company that practically invented live TV shopping and made “call now!” part of American culture — has filed for Chapter 11 bankruptcy. The company says the voluntary filing in a Texas federal court is part of a plan to reinvent itself for the social media era, shifting from traditional TV to livestream retail on digital platforms. CEO David Rawlinson says the restructuring will slash QVC’s debt from $6.6 billion down to $1.3 billion, giving the company “a more appropriate capital structure” to compete in today’s retail landscape. QVC, HSN, and Cornerstone Brands will continue operating normally during the process, with no layoffs or furloughs planned. The company insists it has enough liquidity to pay employees, fulfill vendor obligations, and keep all channels and platforms running as usual.