Bankruptcy and Store Closures
Party City filed for Chapter 11 bankruptcy in January 2023. The company cited pandemic-era debt, falling consumer demand, and supply chain issues. It closed hundreds of underperforming stores across the United States and Canada.
Restructuring and Ownership Changes
During bankruptcy, Party City restructured operations and reduced its overall store count. The company was acquired by a group of creditors and private equity backers. The new ownership aimed to stabilize the brand and focus on core party supply categories.
Current Status and Outlook
Party City continues to operate a reduced network of physical locations and an online store. The company has worked to manage inventory and adjust its business model. For the latest updates, you can check the company's official site.
Visit Party City for current store locations and product availability.
