Party City to Close All Stores After Decades in Business

📆 23-12-2024 23:36:00
📰 njdotcom

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Business समाचार

Party City,Closure,Bankruptcy

Party City, the once-thriving party supplies giant, is shutting down all its stores nationwide due to difficult economic conditions. The company announced a going-out-of-business sale with deep discounts, offering customers a last chance to stock up on their party needs.

Party City, a New Jersey-based party supplies retailer, is closing its over 850 stores nationwide after holding a going-out-of-business sale with up to 50% off products. The company cited inflationary pressures on both costs and consumer spending as reasons for its closure. Party City, founded in 1986, grew to become the largest party supplies retailer in the U.S., Canada, and Mexico.

It was known for its vast selection of party necessities, especially Halloween costumes, and became a popular one-stop shop for all things party-related

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Party City to close its stores as company files for bankruptcyParty City announced that it's going to “wind down” its retail and wholesale operations as it prepares to shutter nearly 700 stores nationwide. The company said Saturday it has also filed for Chapter 11 bankruptcy protection 'to maximize value for the benefit of the company’s stakeholders.
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