A Birthday celebration Town retailer check in observed in Encinitas, California March 9, 2015. REUTERS/Mike Blake
Aug 4 (Reuters) – Birthday celebration Town Holdco is thinking about splitting up its balloon production and retailing companies because the latter charts a route out of chapter, Bloomberg Information reported on Friday, bringing up folks acquainted with the location.
The corporate has held confidential talks with debt holders about spinning off its Anagram unit, the document mentioned, including that talks are proceeding and the location would possibly trade.
Birthday celebration Town didn’t instantly reply to Reuters request for a remark.
In January, Birthday celebration Town filed for chapter coverage after it noticed its fortunes taper following a slowdown in gross sales because of lockdowns and retailer closures.
This at the side of stock shortages and tight provides of helium because of international provide chain disruptions harm the birthday celebration provider additional.
The corporate mentioned its subsidiaries outdoor of america, its franchise shops and its Anagram trade weren’t a part of the chapter complaints.
Reporting by way of Ananya Mariam Rajesh in Bengaluru; Modifying by way of Arun Koyyur
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