Kekst CNC is handling the bankruptcy filing of Party City Holdco Inc., which has more than 800 celebrations stores in 45 states, as well as Halloween City seasonal pop-up outlets.
Brad Weston, CEO, cited the pandemic, the supply chain crisis and other macroeconomic challenges among reasons for the financial restructuring that will slash corporate debt.
Chapter 11 will strengthen Party City’s balance sheet “and bolster our ability to further advance our strategic priorities and continue to innovate and elevate the customer experience,” he said.
Weston said Party City is “as committed as ever to inspiring joy by making it easy for our customers to create unforgettable memories.”
The financial overhaul of the Woodcliff Lake, NJ-based company is expected to be completed during the second quarter.
Kekst CNC’s Sherri Toub and Wendi Kopsick represent Party City.