Party City Files For Bankruptcy Protection [VIDEO]

CNN Business reports:

Party City filed for bankruptcy protection Tuesday after years of losses and weak sales. The largest party goods and Halloween specialty retail chain in the United States said in a regulatory filing that it reached an agreement with debtholders to cut its $1.7 billion debt load.

The company said it secured $150 million in financing that will allow it keep its stores open and operations running. As of October, the Company had 761 total Party City stores and 149 temporary Halloween City stores. In 2021, Party City had more than 16,000 employees.

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The largest party goods and Halloween specialty retail chain in the United States filed for bankruptcy protection after years of losses and weak sales. https://t.co/ZniOb3o7zL

— CNN (@CNN) January 18, 2023