The filing comes as Covet by Christos founder Christos Garkinos said the company’s audience aged and struggled to shift to social media.
QVC Group has filed for Chapter 11 bankruptcy to address $6.6 billion in debt. The source also cites comments from Covet by Christos founder Christos Garkinos, who said the company’s customer community had aged and was not able to make the move to social media. The filing points to financial restructuring pressures as legacy retail media businesses face changing consumer behavior and digital competition.