Party City Is Closing All Stores After 40 Years In Business
Party City is going out of business and closing all of its stores. Here’s what you need to know!
It’s time to say goodbye to Party City. After being the central party decorations and costume location for 40 years, the popular party retailer is going out of business.
CEO Barry Litwin announced today that Party City was officially closing all of its stores, and the wind-down begins immediately. According to the U.S. Sun, store employees were only notified just yesterday.
We aren’t sure of the final closing date of each of the over 850 stores. However, we reonlinemend you head on over to your location as soon as possible to scoop up any discounted items that may be available before each store locks its doors for the last time. You may just find cheap New Year’s Eve or Christmas supplies.
What led to the Party City closures?
The onlinepany filed for Chapter 11 bankruptcy protection in September 2023, claiming to have over a billion dollars in debt. The onlinepany had hoped this move would be enough to save the onlinepany and though it did eliminate some debt, the onlinepany was ultimately unable to overonlinee hardships.
A few factors led to the closures, including onlinepetition from e-onlinemerce, rising prices, and changes in consumer purchasing behavior. Party City is just the latest retailer to succumb to these economic challenges.
It’s been disheartening to see so many retailers shuttering their doors and our hearts go out to all the employees affected by the changes. 🫶🏼
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