Party City files for bankruptcy to restructure piling debt

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A shopper exits a Party City Holdco Inc. store in New York, U.S., on Wednesday, Nov. 7, 2018. Party City Holdco released earnings figures on November 8.


Party City and some of its U.S. units have filed for Chapter 11 bankruptcy, as the retailer looks to restructure its debt and better compete for sales as consumers’ wallets get hit by inflation.

According to a filing, the company said it struck an agreement on Tuesday to reduce its debt.

This is breaking news. Please check back for updates.


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