SEC Asks Bankrupt Party City to Save Documents in Investigation

Party City Holdco Inc. is retaining documents and data in connection with a Securities and Exchange Commission probe, according to bankruptcy court papers.

The regulator sent a letter to the bankrupt party supplies retailer on July 12 asking it to preserve and retain information “relevant to an ongoing investigation,” Party City said in court papers filed Friday. The letter came a little more than a month after its longtime auditor, Ernst & Young LLP, resigned. The disclosure was included in a section on the accountant’s resignation.

Additional details about the nature of the investigation, including its target, weren’t ...