Twice-bankrupt retailer receives $20 million lifeline after shuttering 850 stores
A fan-favorite retailer's second bankruptcy is nearly complete. Now, a corporate conglomerate will own the specialty brand. Party City, the once-popular balloon, costume, and celebrations supply store, announced it has sold most of its assets as it winds down operations. The company auctioned its remaining intellectual property and wholesale operations to New Amscan, a company known for owning brands like Chia Pet and The Clapper. Amscan, an affiliate of Ad Populum, supplies party supply products to major brands like Target and Amazon.
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