Party City files for bankruptcy with plans to restructure mounting debt


Retailer Party City has filed for Chapter 11 bankruptcy protection in a bid to restructure its heavy debt load and keep its doors open after supply chain woes, rising inflation and a consumer slowdown took a chunk out of sales.

“They’re competing against Walmart, and Target and Amazon and the dollar stores and grocery stores,” said Joe Feldman, an analyst at Telsey Advisory Group who had covered Party City since its IPO in 2015. He dropped coverage of Party City on Dec. 30 as bankruptcy loomed.

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