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Party City announced Dec. 21 in a news release that that company filed for bankruptcy.
The release states that the company “plans to commence a wind down of its retail and wholesale operations and going out of business sales at its approximately 700 stores nationwide.”
A company representative at the Plano location said this store does not have a closing date set but storewide sale is underway including fixtures, furniture and equipment.
Quote of note
“The decision was made following exhaustive efforts by the company to find a path forward that would allow continued operations in an immensely challenging environment driven by inflationary pressures on costs and consumer spending, among other factors,” the release states.
Party City has been in operation for almost 40 years and is headquartered in Woodcliff Lake, New Jersey.
