1. Corporate Finance

Party City files for Chapter 11 protection

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Party City Holdco and some of its U.S. business units have filed for Chapter 11 bankruptcy as part of a plan with creditors to reduce the company’s debt load. The retailer said it has made a deal for $150 million in debtor-in-possession financing from a noteholder group that holds more than 70 percent of its debt. Party City said that its stores will remain open.

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