Party City is reportedly exploring a second bankruptcy filing, according to Bloomberg, as the retailer continues to face financial pressure. The party supply giant, which first declared bankruptcy in January 2023, has struggled to regain footing despite restructuring efforts. Persistent debt challenges and a declining demand for its products are forcing the company to evaluate its options.
Sources familiar with the matter indicate that Party City has been in discussions with advisors to chart a path forward. While a decision is not yet finalized, the move highlights the ongoing difficulties brick-and-mortar retailers face in a post-pandemic economy. A second bankruptcy would aim to address lingering financial obligations and potentially streamline operations further.
