Party City Stores to Remain Open During Restructuring
the staff of the Ridgewood blog
Woodcliff Lake NJ, Party City Holdco Inc. (NYSE: PRTY) (“PCHI” or the “Company”), a global leader in the celebrations industry, today announced that it has entered into an agreement with an ad hoc group of holders of more than 70% of the Company’s senior secured first lien notes (the “Ad Hoc Group”) to support an expedited restructuring that would substantially reduce PCHI’s debt and optimize its capital structure and liquidity. This would ensure that PCHI is best equipped to continue to advance its transformational initiatives and enhance its market leadership in all things celebration from a strengthened financial position.
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