LogFAQs > #983372654

I have no doubt that their business model was in trouble, and maybe they really are flat out of money. But this would've been something they saw coming not days, not weeks, not months, but years in advance. To have no strategy other than mass layoffs and immediate closure a mere five days before Christmas with no notice given and combined with the termination of benefits? That's downright evil shit.

Bloomberg reported earlier this month that Party City was exploring a second bankruptcy filing amid financial troubles stemming from slow sales. Party City Holdings, Inc., had previously filed for bankruptcy in early January 2023, but emerged from Chapter 11 in September of that year after plans to reorganize were approved by the U.S. Bankruptcy Court for the Southern District of Texas. At the time, Party Citys then-CEO Brad Weston called approval an important milestone in completing our financial restructuring and successfully positioning PCHI for the future.