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Party City files for bankruptcy

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Party City files for bankruptcy


(CNN) — Social gathering Metropolis filed for chapter safety Tuesday after years of losses and weak gross sales.

The most important occasion items and Halloween specialty retail chain in the USA stated in a regulatory submitting that it reached an settlement with debtholders to chop its $1.7 billion debt load.

The corporate stated it secured $150 million in financing that can permit it preserve its shops open and operations working. As of October, the Firm had 761 whole Social gathering Metropolis shops and 149 short-term Halloween Metropolis shops. In 2021, Social gathering Metropolis had greater than 16,000 full- and part-time workers.

Social gathering Metropolis has struggled for years towards competitors for occasion items and decorations from big-box chains and on-line retailers. The emergence of Spirit Halloween, a pop-up retailer mannequin, additionally lower into Social gathering Metropolis’s gross sales throughout the important thing Halloween season.

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The corporate additionally needed to take care of rising prices in the course of the pandemic and a helium scarcity, which harm balloon gross sales. Balloons are a “point of interest of our progress technique and are a key driver of our differentiated model expertise,” the corporate stated in a regulatory submitting.

Between 2017 and 2021, Social gathering Metropolis’s gross sales dropped 8% to $2.2 billion. The corporate projected gross sales to stay flat in 2022. The corporate additionally misplaced cash yearly between 2019 and 2021 and stated was on monitor to lose as much as $199 million in 2022.

Social gathering Metropolis in December stated it was vulnerable to a de-listing from the New York Inventory Change as a result of its inventory fell underneath a median of $1 a share for 30 buying and selling days.

Different struggling retail chains are additionally at heightened threat of chapter in 2023 as customers pull again their spending.

Mattress Tub & Beyon this month issued a grim message about its future, warning {that a} chapter submitting is a potential end result for the corporate.

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There’s “substantial doubt concerning the firm’s means to proceed” due to its worsening monetary scenario.





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Indianapolis, IN

Lisa Loeb's guitar found by bar owner after a 'conversation'

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Lisa Loeb's guitar found by bar owner after a 'conversation'


INDIANAPOLIS (WISH) — After a show in Hendricks County Monday night, famed musician Lisa Loeb’s guitar was stolen outside the Conrad Hotel in downtown Indianapolis.

Her crew was packing up after the show.

After she put out an acoustic APB on X, a local bar owner spotted a man walking in front of his establishment with the same guitar case he saw in Lisa Loeb’s post.

Joel Reitz co-owns the O’Reilly Irish Bar and Restaurant. He said he saw a ‘disheveled’ man walking on the street with the guitar case he recognized from Loeb’s post.

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O’Reilly’s is on South Pennsylvania, just a few blocks away from the Conrad Hotel.

Reitz says after a drama-free conversation with the man and a couple of requests, the man gave the guitar to him.

The police picked up the guitar, as it was stolen property. Loeb later shared on Instagram that the guitar is already on the way back to her after IRC Music shipped it out.

Reitz said he wants to be a steward for the Indianapolis community.

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Indianapolis, IN

IMPD: Owner of popular Indy nail salon arrested for domestic battery

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IMPD: Owner of popular Indy nail salon arrested for domestic battery


News 8 has chosen not to name the woman involved in the domestic battery incident.

INDIANAPOLIS (WISH) — The owner of a popular Broad Ripple nail salon faces charges after police say he attacked a woman when she accused him of stealing money.

Tuan Nguyen, 43, owner DaVi Nail Spa in Broad Ripple, faces misdemeanor charges of battery, domestic battery, and battery resulting in bodily injury following the July 10 incident.

Court documents say an Indianapolis Metropolitan Police Department officer was dispatched to a home in the 6000 block of College Avenue to investigate a domestic disturbance.

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They arrived and met with a woman who said she and Nguyen fought. When she came home that day, she noticed money missing from its spot under her bed, and asked Nguyen if he had it.

Nguyen denied having it. The woman then said she’d call the police.

The woman told the officer that Nguyen then “grabbed her by the hair and pushed her, causing them both to fall on the floor.” She also said during the fight, “Nguyen began pulling on her dog, trying to break the dog’s leg.”

The woman then ran out of the house to call 911.

Officers detained Nguyen at the scene, who once again denied having the money. He told investigators that after she threatened to call the cops, he “grabbed her by the back of her shirt and they fell to the ground and had a scuffle.”

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Nguyen was then taken to the Marion County jail.

News 8 confirmed on Tuesday that he had been released and was back operating the nail salon.

Help is available for victims of domestic violence. Below is a list of suggested resources on the Domestic Violence Network website:



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IPS 'Back to School Nights' prepares students for new school year

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IPS 'Back to School Nights' prepares students for new school year


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INDIANAPOLIS (WISH) — Indianapolis Public Schools has turned many of its schools into one-stop shops this month that enable kids to thrive inside and outside the classroom.

James Russell Lowell Montessori hosted one of the district’s “Back to School Nights” on the eve of the new school year, which starts on Thursday.

Chandrel Downs’ two kids attend Lowell, and despite spending several hundred dollars on supplies she still needed to pick up an extra backpack given out at the event:

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“For the twins, it was $400, just alone for clothes, and school supplies and shoes,” she said.
Hensley Law Group donated hundreds of backpacks to the event. Overdose Lifeline had a booth set up to help provide substance abuse counseling, and Edna Martin was on hand to promote its after-school services.

Principal Christine Rembert said immunizations were provided and a voter registration booth was available.

“I think from a family perspective it’s nice to have all the things in one place, as opposed to having to go to a variety of different agencies. Time is very precious, especially for families,” Rembert said.

The event also allowed students and parents to meet teachers, administrators, and fellow students.

“The children spend most of their waking time at school, and we want parents to feel a high level of comfort with us who are at the school,” Rembert said.

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Downs had one child who already attends Lowell Montessori and two more have been there since pre-school. Despite that familiarity, she’s glad to meet her kids’ teachers.

“We get to talk to them, and let them know the ins and outs of your kids, get to meet them,” she said.



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