Party City Holdco Inc filed for Chapter 11 bankruptcy protection on Tuesday, becoming the latest casualty among U.S. retailers in the aftermath of the pandemic, as it struggled with low demand and increased competition from online buying.
Rockaway, New Jersey-based Party City said it had reached a pre-negotiated agreement with a bondholder group to support an "expedited restructuring," which it expected to complete in the second quarter of this year.
The party supplies retailer's fortunes have dwindled since the COVID-19 pandemic as it wrestled with slowing sales due to lockdowns and store closures, along with inventory shortages and tight helium supplies due to global supply chain disruptions.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Our best city': Iconic musical 'Chicago' returns to the Windy City to delight of cast membersAfter nearly 50 years on stage, countless Tony wins and an Oscar-winning big screen adaptation, the iconic musical “Chicago” returns to Chicago tonight.
Read more »
Vegas Golden Knights goalie Robin Lehner files for Chapter 7 bankruptcy, cites $50M in debtFinancial woes are plaguing Vegas Golden Knights goalie Robin Lehner. He filed for Chapter 7 bankruptcy because he owes $50 million to dozens of creditors.
Read more »
Update: GOT7’s Jinyoung Unveils “Chapter 0: WITH” Track List With Him As Sole LyricistUpdate: GOT7’s Jinyoung Unveils “Chapter 0: WITH” Track List With Him As Sole Lyricist
Read more »
District 7′s Ana Sandoval resigns from San Antonio City CouncilDistrict 7 City Councilwoman Ana Sandoval announced her resignation from City Council.
Read more »
Ronaldo-Messi rivalry set for new chapter in RiyadhA new chapter in the celebrated rivalry between Cristiano Ronaldo and Lionel Messi will unfurl on Thursday when they meet in an exhibition match as the Portugal forward gears up for his first game in Saudi Arabia since joining Al Nassr.
Read more »
Chainsaw Man Chapter 118 Solves Denji's Deadly CliffhangerChainsaw Man loves few things more than a good cliffhanger, and it proved as much this month. To [...]
Read more »