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Party City plans bankruptcy within weeks - WSJ

Reuters · 01/06/2023 12:11
Party City plans bankruptcy within weeks - WSJ

- Party City Holdco Inc PRTY.N is preparing to file for bankruptcy within weeks as its cash dwindled and inflation dampened sales, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The party supplies retailer is in discussions with its bondholders to convert debt into equity to trim the balance sheet, the report said.

The report further added that Party City has engaged AlixPartners LLP as a restructuring adviser.

Party City and AlixPartners did immediately respond to Reuters requests for comment.


(Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh Kuber)

((Granth.Vanaik@thomsonreuters.com;))