https://www.nbcnewyork.com/news/business/money-report/party-city-files-for-bankruptcy-to-restructure-piling-debt/4053913/
Note the article states it's for a restructuring off debt held by the company.
No surprise there. They weren't doing well before COVID, and I'm sure the pandemic didn't do them any favors either.
They already closed a bunch of stores a couple years ago, including the one in my town. Surprised the chain isn't gone yet.
There's one 300 feet into New Hampshire in a plaza next to NH/MA 125. New Hampshire has no sales tax, which is why it's placed where it is. Not having been inside, I don't know how it's doing.
Will this bankruptcy close all stores or just some?
Quote from: 1 on January 19, 2023, 09:17:33 AM
Will this bankruptcy close all stores or just some?
Chapter 11, so there should be the intent to maintain some stores, maybe most if not close to all if they can. It all depends, but that's the difference from Chapter 7, which is total liquidation of assets.
I guess the party is over.
Quote from: WillWeaverRVA on January 19, 2023, 09:00:03 AM
No surprise there. They weren't doing well before COVID, and I'm sure the pandemic didn't do them any favors either.
I see what you did there.
Pick them up while you still can! (https://www.partycity.com/light-up-old-zone-traffic-cone-plastic-necklace-30in-911095.html)
(https://cdn.media.amplience.net/i/partycity/911095?$large$&fmt=auto&qlt=default)
Hey, well, at least it could cut some annual infrastructure costs for Spirit Halloween...
Quote from: Big John on January 19, 2023, 03:35:36 PM
Quote from: WillWeaverRVA on January 19, 2023, 09:00:03 AM
No surprise there. They weren't doing well before COVID, and I'm sure the pandemic didn't do them any favors either.
I see what you did there.
Mwahaha.
Quote from: Scott5114 on January 19, 2023, 03:29:10 PM
I guess the party is over.
We have to get past Friday first. ;-)
Had a chuckle outside of this Party City. (https://goo.gl/maps/pPzzmZpRyU4afjuG6) In Canada, Smarties candies are called Rockets because Canada has real Smarties: candy coated chocolate drops. They simply used the advertising provided by the United States with the wrong brand name on it.