Reported 1 day ago
Party City has officially filed for Chapter 11 bankruptcy for the second time in two years and will begin an orderly wind down of its business. Despite emerging from a previous bankruptcy in October 2023, the company faced ongoing financial struggles, leading to immediate store closures and layoffs of employees. With over 750 stores previously in operation, Party City stated that its debts and liabilities range between $1 billion and $10 billion, affecting a significant number of creditors.
Source: YAHOO