Party City, Creditors in Talks To Spin off Balloon Business, Bloomberg Reports
August 7, 2023
Party City Holdco is reportedly considering separating its balloon manufacturing and retailing businesses as the retailing arm aims to navigate its way out of bankruptcy. The company has engaged in confidential discussions with debt holders regarding the spinoff of its Anagram unit, but the situation is subject to change. Party City filed for bankruptcy protection in January after facing challenges from sales slowdowns due to lockdowns, store closures, inventory shortages, and helium supply chain disruptions.
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