Party City to Close 22 Stores Across The Country, 1 in New Jersey
The party appears to be over for one Party City location in New Jersey following the chain's bankruptcy filing last month.
Company Background
- Party City was founded in 1986 in East Hanover, NJ
- The chain is currently based in Woodcliff Lake, NJ
- It is the largest retailer of party supplies in North America
According to Business Insider, Party City plans to close 22 stores across the country - 12 will be auctioned off and 10 will shut down.
And according to court documents, it's possible more stores could close.
Published reports say the party supply chain began to face financial problems when COVID-19 hit, followed by more recent supply-chain disruptions, and even a shortage of helium, which hurt its sales of ballons, as all contributing factors to its bankruptcy filing.
Regional stores closing
Across the region, three stores in New York City will be closing. Those are at 223 W 34th St., 301 W 125th St., and 171 W 230th St. in the Bronx.
One New Jersey store closing
One store in the Garden State will be shutting down. That one is in West Paterson on Route 46.
Party City continues to operate over 800 stores across the country, 770 of which are owned by the company itself.