Reports suggest that Party City is planning to file for bankruptcy within the next two weeks.
Bloomberg has reported that the move may lead to the liquidation of its stores. The timing of filing is said to be still uncertain and plans could change, according to people with knowledge of the matter.
Lenders including Silver Point Capital took over ownership of the retailer when it exited Chapter 11 protection in October 2023, reducing its debt by about $1 billion and closed over 60 stores.
A representative for Silver Point declined to comment and a representative for Party City didn’t immediately respond to requests for comment.
