The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Paramus NJ, after almost four decades as the go-to retailer for celebrations, Party City is closing its doors for good. The iconic party supply chain announced it is winding down operations effective immediately, with all stores set to close by February 28.
Continue reading The Party is Over for Party City : Shuts Down After Nearly 40 Years in Business
the staff of the Ridgewood blog
Woodcliff lake NJ, Woodcliff Lake-based Party City has appointed Barry Litwin as its new president and CEO, marking a significant leadership change as the company continues to recover from its recent bankruptcy. Litwin, who previously served as CEO of Global Industrial Company, will now lead Party City through its next chapter of growth and transformation.
Continue reading Party City Names Barry Litwin as New CEO Amid Post-Bankruptcy Recovery
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.
Continue reading Party City of Woodcliff Lake Files for Chapter 11 Bankruptcy
