Retailer Party City files for bankruptcy, will wind down 700 stores: Party City, which has been struggling since the COVID-19 pandemic, filed for Chapter 11 bankruptcy protection in the United States on Saturday for the second time in two years as it plans to wind down its retail and wholesale operations
The Container Store to Execute Comprehensive Recapitalization Transaction with Lender Support to Best Position the Company for Future Success | Business Wire: At least 90% of the Company’s Term Loan Lenders have entered into a transaction support agreement, pledging their support for the in-court recapitalization which, among other things, will provide the Company with (i) $40mm of new money financing, (ii) at least $45mm of deleveraging, (iii) substantial debt service relief, and (iv) material maturity runway. In addition, the Company has modified its asset-backed lending facility to add $40mm in upsized capacity.
