Tamika Cody

The party supplies distributor aims to reduce its funded debt by more than 70% to $200 million. Carlyle Group-backed party supplies distributor Oriental Trading Co. of Omaha has filed a pre-packaged bankruptcy petition that it said would reduce its funded debt by more than 70% to $200 million. Carlyle invested in Oriental Trading in 2006, acquiring a majority stake from Brentwood Associates, which held onto a 25% holding. Terms of the deal were undisclosed but published reports valued the transaction at close to $1 billion. Calls into the company were not returned by press time. In its Chapter 11