Party City Bonds Flop Amid Inflation Pressure, Lowered Forecast

Notes for Party Cityhave sunk to their lowest levels on record as the company struggles to rebound from its poor earnings report on Tuesday morning.

• Its 8.75% bonds due in 2026 dropped 7.5 cents to trade at 52 cents on the dollar, as of 8:37 a.m. in New York, according to Trace data
  • The decoration supplier lowered its earnings forecast for the third time this year and cut its headcount by 19%
• The company has struggled to attract customers post-pandemic as inflation has eroded consumers’ zeal for social gatherings

Read more: Party City Drops as Inflation Saps Enthusiasm for ...