Party City is going out of business nationwide: See full list of stores
Editor's note: Some Party City locations have since announced plans to stay open. Read more here.
New Jersey-based Party City is going out of business after the retailer filed for Chapter 11 bankruptcy.
The filing was done early Saturday in the U.S. Bankruptcy Court for the Southern District of Texas. Party City has already emerged from a previous bankruptcy last year with about $1 billion less in debt.
The company will put its assets up for bidding or, if there's no sale, "initiate store closing sales to liquidate all of the Party City Group Companies’ retail and wholesale inventory and locations," according to the filing.
All corporately-owned Party City locations will close. It is unclear how many franchise locations exist or will remain open. Reports from local news stations in Austin, Texas say some franchise stores in the city will remain open.
Like many other retailers, Party City marked down prices in September – on more than 2,000 items by an average of 20% – to attract skittish customers and drive sales.
Party City CEO Barry Litwin told corporate employees in a meeting Friday that Party City is "winding down" operations immediately and that today will be their last day of employment, CNN reported.
Party City stores closing
Search the database below to find the list of Party City store locations in your city or state, according to the company's website.
Contributing: Mike Snider
Fernando Cervantes Jr. is a trending news reporter for Paste BN. Reach him at fernando.cervantes@gannett.com and follow him on X @fern_cerv_.