Party City in Pact to Sell Brand, Assets to Ad Populum Unit

Party City Holdco says that it has entered into a so-called stalking horse agreement to sell “substantially” all of its intellectual property and related wholesale operating intangible assets to New Amscan PC, an affiliate of Ad Populum.

• Deal is part of the company’s Chapter 11 process
• Sale agreement is subject to higher or better offers and bankruptcy court approval
  • Auction set for Feb. 6 with Feb. 4 bid deadline
• Hilco Streambank and Gordon Brothers Brands overseeing the sale process
• NOTE: In Dec. Party City Files for Bankruptcy a 2nd Time in Retail Déjà Vu

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