Party City, Creditors in Talks To Spin off Balloon Business, Bloomberg Reports
August 7, 2023
Party City Holdco is reportedly considering separating its balloon manufacturing and retailing businesses as the retailing arm aims to navigate its way out of bankruptcy. The company has engaged in confidential discussions with debt holders regarding the spinoff of its Anagram unit, but the situation is subject to change. Party City filed for bankruptcy protection in January after facing challenges from sales slowdowns due to lockdowns, store closures, inventory shortages, and helium supply chain disruptions.
Recent News
Peacock Streaming Service To Raise Subscription Prices by $2 Before Summer Olympics
Ahead of the Olympics in Paris, Comcast’s NBCUniversal plans to raise the monthly subscription price of its streaming service, Peacock, by $2 this summer.
Rolls-Royce Expands Factory To Craft More ‘Bespoke’ Cars
Rolls-Royce is making substantial expansions to its Chichester factory in England to focus its efforts on more expensive cars.
Pickleball Expands Internationally to India
Pickleball, America’s booming sport, aims to spread its games in India, the world’s most populous country.
Amazon Prime Announces It Has Faster Deliveries
Amazon reports that its Prime deliveries are now even speedier. With over 2 billion packages reaching customers in a day or less this year, the company claims its delivery system is picking up its pace.