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Party City to Close 22 stores amid Bankruptcy Filing

As part of an effort to wind down underperforming stores, Party City is planning to close around 22 stores, with more possibly to come. The 12 stores already up for auction are located in New York, Missouri, Michigan, Oklahoma, Oregon, Mississippi and West Virginia. According to court filings, New Jersey-based Party City had 770 company-owned stores and 53 franchised stores when it filed for bankruptcy. The company closed around 150 stores from 2019 through the first nine months of 2021. The company said it expects to exit bankruptcy protection in the second quarter.

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