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Posted by
Two Blokes Thu at 11:45 AM -
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Stock
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Qurate's business continues to deteriorate, with revenue and OIBDA sharply down and customer counts falling, driven by secular headwinds and digital disruption. The company faces a looming debt crisis, with complex layers of debt and securities trading at distressed levels, and bankruptcy risk is real and rising. Game theory suggests likely liability management exercises or restructuring, with potential for selective recoveries in preferred stock and certain bonds, but outcomes remain highly uncertain.
