Bankruptcy & Restructuring News & Analysis

Party City has filed motions seeking approval to sell lease designation rights for nearly 200 store locations to Five Below and Dollar Tree, as the retailer continues its Chapter 11 restructuring process. The proposed deals could provide Party City with up to several million dollars in value while allowing the discount retailers to potentially expand their footprints.

Nikola Corporation, the electric truck manufacturer, has initiated proceedings to sell its assets through Chapter 11 bankruptcy, filing a motion in Delaware bankruptcy court that outlines bidding procedures and a swift timeline for potential buyers. The company remains in active discussions with multiple interested parties while working with investment banker Houlihan Lokey Capital to market its assets.