Party City to Unload Key Assets Amid Second Bankruptcy Through Strategic Stalking Horse Agreement

Party City, the well-known retailer, has entered into a stalking horse agreement to sell its brand name, other intellectual property, and related operating assets. The buyer is an affiliate of Ad Populum LLC, a pop culture merchandiser that owns the Chia Pet brand and has a stake in the entertainment complex at Elvis Presley’s Graceland. This strategic move comes as Party City navigates its second Chapter 11 bankruptcy. For further details, you can view the original coverage.