{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-049528","form_type":"8-K","ticker":"QVCGA","cik":"0001355096","company_name":"QVC Group, Inc.","filed_at":"2025-11-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.215545+00:00","generated_at":"2026-05-17T00:12:59.409044+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"QVC Group Q3 revenue down 6%, adjusted OIBDA -32%; going concern flag on $2.9B bank debt","bullets":["Revenue $2,213M (-6% YoY); operating income $60M (-61%); adjusted OIBDA $169M (-32%).","QxH revenue -7%, QVC International -1% (-5% constant currency); Cornerstone -8%.","Cash rose $920M to $1,817M; total debt $6,615M face (+$975M); bank credit facility $2.9B drawn.","Bank credit facility matures Oct 2026; leverage 4.2x; going concern dependent on refinancing or repayment.","Dividend restricted as consolidated leverage >3.5x under senior secured notes covenants."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-049528","json":"https://secwatch.observer/filing/0001628280-25-049528.json","markdown":"https://secwatch.observer/filing/0001628280-25-049528.md","text":"https://secwatch.observer/filing/0001628280-25-049528.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1355096/000162828025049528/0001628280-25-049528-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1355096/000162828025049528/qvcga-20251105.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T00:12:59.409044+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}