Party City, the largest party supply store in the U.S., has announced that it will close all of its 800 locations nationwide by Feb. 28.
CNN reported that corporate employees were told Dec. 20 that it would be their last day of employment and the company would begin “winding down” operations immediately. The business is headquartered in New Jersey and also has stores in Canada, which will continue to operate due to different ownership for those locations.
Parent company Party City Holdco Inc. filed for Chapter 11 bankruptcy protection on Dec. 21 for the second time in two years. Party City initially filed for Chapter 11 in January 2023, citing changing consumer behavior and a failure to recover from the pandemic, Bloomberg reported at the time.
The company announced in September 2023 that it had eliminated more than $1 billion of debt and completed its bankruptcy reorganization. However, earlier this month, the company warned that it was running out of cash to continue operations.
According to Party City’s website, there are currently 32 locations in Illinois. The majority are in the Chicago area, although nearby stores include Bloomington and Fairview Heights.
The company’s website states that the chain’s entire inventory is being offered at discounts of up to 50% as part of the going out of business sale.
This article appears in Book Of Lists 2025.