Party City Files for Bankruptcy a 2nd Time in Retail Déjà Vu
- Firm exited last bankruptcy in 2023 with creditors in control
- US retailers under pressure in slowdown on home spending
A Party City store in Richmond, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Party City Holdco Inc. plunged into bankruptcy for the second time in two years and said it will begin to wind down its approximately 700 stores after sales faltered under the yoke of stubborn inflation.
The New Jersey-based retailer of party goods filed for Chapter 11 bankruptcy in Texas, court documents show.