Marvin Segel never worked for QVC, the home-shopping network his late father, Joseph, founded 40 years ago. He has, though, been intimately connected to it as a consultant and conduit for vendors looking to work with the company.
The news that QVC Group is filing for Chapter 11 bankruptcy protection hit him hard.
“It hurts, personally and professionally, especially for my father’s legacy,” Segel said in a Thursday interview.
Segel said his reaction to QVC Group’s bankruptcy was one of sadness but not surprise, given the West Chester company’s declining finances and rising debt load in recent years.
“I think it had to happen, and hopefully this will give them, if it’s done properly, the breathing room to maybe turn it around,” Segel said. “Time will tell. No one’s got a crystal ball.”
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