Loose Women star Ruth Langsford has been dealt a huge blow as global shopping channel QVC is reportedly on the brink of bankruptcy. The iconic station has been broadcasting for four decades but QVC Group – the parent company of QVC and HSN – is said to be preparing to file for Chapter 11 as it battles a crushing financial burden of more than $5billion.
Ruth has been a staple on QVC UK since November 2017 when she launched her exclusive clothing range. She presents a show featuring the line which utilises various fashion and styling segments to highlight how the outfits can look. Her range includes staples like blazers, jeans, and coats, and has grown to be one of the top fashion labels for the TV retail outlet. She also heavily promotes the range and her QVC appearances on her social media accounts and is frequently seen wearing the items herself - even donning them to jet to Australia for a guest appearance to support friends Jane Moore and GK Barry during I'm A Celebrity in 2024.
According to The Wall Street Journal the struggling retail giant has said it plans to file for bankruptcy after reaching a restructuring agreement with key lenders. The entire process is expected to take about three months and according to the filing QVC plans to continue normal operations throughout the restructuring process meaning there will be no immediate knock on effect for viewers or shoppers.
Chapter 11 is a form of U.S. bankruptcy protection that allows businesses to stay operational while restructuring their debt and financial obligations under court supervision. It initiates an "automatic stay" to halt creditor lawsuits, providing time for the debtor to propose a repayment plan
The broadcaster, previously known as Home Shopping Network has been hit hard by the rise of rival channels such as ShopHQ and Jewelry Television
However the advent of Amazon and online shopping has also put a serious dent in their earning power with viewers having far more choice and the ability to do price comparisons at the touch of a button.
In 2020 Ruth opened up on her transition to QVC designer while chatting with Will Gowing on the Inside QVC podcast, saying that she “never thought” she would design a range for the shopping channel.
She said of releasing her initial clothing capsule with QVC: “Nobody knew, it was a bolt out of the blue when QVC approached my agents and said, 'Can we have a meeting with Ruth? We would like to talk to her about a clothing line.'
“I was like, ‘Wow, how amazing, didn’t see that coming.' I have never thought of myself as any kind of fashion designer or fashionista. I like clothes, I’ve always liked clothes. It hasn’t ever crossed my mind about doing a fashion/clothing range,” she added.
Express.co.uk has contacted representatives for Ruth Langsford for comment.
