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Bloomberg
As Party City Holdco Inc wades through bankruptcy, some of its most important vendors are banding together to negotiate better trade terms for a holiday the company relies on: Halloween.
Halloween orders are placed months ahead of time, meaning costume suppliers have to decide soon what they’re willing to ship to the bankrupt party supplier and on what terms. But with the company’s future still in the hands of a federal judge, some suppliers are wary of waiting until after the holiday to get paid for their goods.
“It’s crunch time,†said Jason Torf, an attorney representing the group. “The goal of the committee is to support Party City, but in a way that protects these vendors.†New Jersey-based Party City has proposed paying the vendors two months after Halloween, by December 31, according to Torf. Party City still owes some suppliers money from pre-bankruptcy shipments, court papers show.