Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...
Get link
Facebook
X
Pinterest
Email
Other Apps
Party City Files For Chapter 11 Bankruptcy
Get link
Facebook
X
Pinterest
Email
Other Apps
The retailer where everyone could count on a set of balloons and streamers is making a major financial move: bankruptcy.
Joe Raedle / Staff I Getty ImagesParty City in Miami.
Party City, the nationwide party store, filed for Chapter 11 bankruptcy on Tuesday, according to CNBC and a filing with the U.S. Securities and Exchange Commission.
"In the face of pandemic headwinds, a global supply chain crisis, and other macroeconomic challenges that have faced our industry, we have made significant strides in PCHI's ongoing transformation," said CEO Brad Weston in a release.
"Today's action to strengthen PCHI's balance sheet will bolster our ability to further advance our strategic priorities and continue to innovate and elevate the customer experience," his statement added.
In the filing, the company said it had secured $150 million in funding, which it will ask the court for permission to use to pay vendors, suppliers, and employee wages and benefits. It has already secured the support for its plan to file for bankruptcy from a group (like a holding company) that "holds" more than 70% of its "first lien" debt. That is debt that must be paid off first, essentially.
The bankruptcy process for Party City — as is often the case — is to give it a chance to restructure its debt.
Party City was founded in 1947 in New York, and went public in 2015, per the Wall Street Journal. It saw growth up until about 2019, per CNBC, as it became a hotspot for party ephemera including streamers, balloons, and costumes.
But several factors helped take the retailer down, including the pop-up costume store Spirit Halloween, according to CNN.
As the Journal noted, the store faced cut-down parties in the pandemic, supplier issues with helium, and even inflation, which the company said brought down the demand for their products.
The helium shortage was particularly an issue for the company, which it called a "focal point of our growth strategy and are a key driver of our differentiated brand experience," per CNN.
An analyst who followed Party City told CNBC that the company also just lost ground to changing consumer preferences and competitors.
"They're competing against Walmart, and Target and Amazon and the dollar stores and grocery stores," said Joe Feldman, an analyst at Telsey Advisory Group.
The company also kept its 800-plus stores open, even amid declining sales, and "burned cash," as the outlet wrote.
Party City's international sectors and franchised stores will remain operational as-is, the company said in its SEC filing.
"We appreciate the commitment of our team members and the continued support of our partners as we further enhance our position as the 'go to' one-stop-shop for celebrating life's special moments," Weston added in the release.
I recently watched “ the greatest film of all time ,” and the most boring one. In retrospect, the title alone should have been a sufficient warning: Jeanne Dielman, 23 Quai du Commerce, 1080 Bruxelles . Alas, I’m old enough to be a bit nostalgic about massive telephone address books. And massive it is. Clocking over 200 minutes, Chantal Akerman's 1975 dreary drama follows three days in the monotonous routine of Jeanne, a widow, a mother, and a prostitute. I watched Jeanne’s autopilot existence, until, staring at her back as she washes dishes, I decided to fast-forward a couple of minutes, only to discover she was still at it. And Jeanne is equally thorough when she’s busy baking, cleaning, folding laundry, or shining her son’s shoes. She speaks so scarcely and mechanically, that it’s impossible to detect any emotion or volition beyond her carefully controlled chores . Watching Jeanne Dielman is what the word “painstaking” was invented for. Chantal...
Stored procedures: like functions for your SQL. A stored procedure is a batch of SQL statements created and stored on a database. You can reuse a stored procedure over and over again. A stored procedure can accept parameters, run a query, and return results. Many users can call a stored procedure and different applications can call it with different parameter values. What Are the Benefits of Using Stored Procedures? Apart from allowing multiple users and applications to reuse it, a stored procedure has other benefits. It is easy to modify. You can change a stored procedure when necessary and these updates will be reflected for all users. Furthermore, you don’t need to redeploy your application when you modify the stored procedure. It reduces network traffic because the server only passes the procedure’s name over the network and not the entire query. It improves database security since users don’t have direct access to tables. To make...
Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...
Comments
Post a Comment