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The Party City Profile on Bankruptcy. Why doesn’t the party stop for other retailers.



Pho eat and play

With a decades-long meeting coming to an end, the retailer has now filed for bankruptcy protection after years of poor financial results.

The company said it filed for voluntary chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas on Tuesday night. In addition, it entered into a restructuring agreement with a group of creditors holding more than 70% of the company’s senior secured first mortgage notes in a bid to speed up the process.

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