Party City, Creditors In Talks to Spin Off Balloon Business
- Company and Anagram bondholders in confidential discussions
- Anagram business was excluded from company’s Chapter 11 filing
Party City is considering splitting up its balloon manufacturing and retailing businesses.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Party City Holdco Inc. is considering splitting up its balloon manufacturing and retailing businesses as the latter charts a course out of bankruptcy, according to people familiar with the situation.
Party City has held confidential talks with debt holders about spinning off its Anagram unit, said the people, who asked not to be identified because the matter is private. Talks are continuing and the situation may change, they said.