Business · Companies · 1 day ago
TVSN fails to find buyer and plans to close on November 15
Australian shopping channel TVSN has failed to secure a buyer or investor after Direct Group held discussions with potential backers.
The channel has operated for more than 30 years and is owned by Direct Group.
The company says TVSN intends to close on November 15, or earlier if its stock sells out.
TVSN is still broadcasting and taking orders for in-stock items during its closing-down sale.
Direct Group says it is seeking the best outcome for everyone affected and will keep suppliers updated.
Some suppliers say they are still owed money for goods they supplied.
The closure matters to the channel’s customers, staff and suppliers, and Direct Group says it will share final broadcast and trading dates once confirmed.
TVSN has failed to secure a buyer or investor and plans to close on November 15, 2026.
Its owner, Direct Group, told suppliers that talks with potential acquirers and investors had not produced a binding transaction.
TVSN said it may close earlier if its stock sells out.
A closing-down sale began on October 6, with Direct Group seeking to sell $30 million worth of goods.
Suppliers have raised concerns about unpaid invoices, while Direct Group says it is continuing to meet its obligations.
- Who
- TVSN, owned by Direct Group.
- What
- TVSN plans to close after failing to secure a buyer or investor.
- When
- November 15, 2026, or earlier if stock sells out.
- Where
- Australia; TVSN also broadcasts via Seven and Foxtel and has an app in New Zealand.
- Why
- Discussions with potential acquirers and investors did not result in a binding transaction.
Suppliers
Direct Group
Payment obligations
Suppliers
Some suppliers say they have not been paid for delivered stock or recent invoices.
Direct Group
Direct Group says it continues to do everything it can to meet its obligations.
TVSN began operating, according to TV Tonight.
Direct Group’s closing-down sale commenced.
Direct Group told suppliers that buyer and investor discussions had not resulted in a binding transaction.
TVSN plans to close, or earlier if stock sells out.
- Planned closure
- November 15, 2026, or earlier if stock sells out
- Owner
- Direct Group
- Closing-down sale began
- October 6, 2026
- Goods targeted for sale
- $30 million worth
- TVSN operating history
- More than 30 years
- TVSN staff
- Around 250 full-time and part-time employees
3 sources
What people are saying
Although a number of parties have shown interest, a transaction has not yet been secured that would allow TVSN to continue in its current form.
We’ve delivered a lot of stock and need to be paid
we do not have plans to enter into any administration unless we cannot meet creditor commitments and cannot find a buyer.