- Party City filed for bankruptcy in January.
- Don’t miss out on their incredible liquidations sales!
- Party City abruptly closes 7 stores in New York.
Party City filed for bankruptcy earlier this year and has begun offering huge discounts on various products before closing some locations.
The popular party supply store is shuttering seven locations in New York.
In January of this year, the company filed for bankruptcy and announced it would close 30 stores nationwide.
Now, it has updated that number to about 35 stores and they are offering discounts of up to 90%.
PARTY CITY CLOSES SEVEN STORES
The popular party supply retail chain, Party City, is preparing to close seven of its stores.
The announcement of Party City’s bankruptcy has led the chain to implement a liquidation sales strategy.
Discounts ranging from 50% to a staggering 90% have attracted crowds of shoppers.
The news comes after it was revealed in January of this year that the company was facing financial troubles.
Party City declares bankruptcy
Since its inception, Party City became the favorite destination for those seeking a wide variety of party supplies.
However, changes in shopping habits at Party City and growing competition in the retail market significantly impacted the company.
Party City has been a staple in the party industry and their bankruptcy news marks the end of an era for many.
The store continues to offer great products to its customers online and the financial woes are not apparent.
The future of the company
Party City managed to grow rapidly and expand nationwide but couldn’t stay afloat in the post-pandemic market.
According to The Sun Us, seven of the 35 closures will occur in New York state.
Although Party City’s physical stores will close their doors in the coming weeks, the company expressed its intention to continue operating online.
They only have a clearance section, but it is normal to see this type of discount in August due to the change of season.
The sadness over the closing of Party City stores mixes with the excitement of steep discounts on sale items.
Party City’s customers and employees prepare for the store closures with the hope that the company can reinvent itself.
Meanwhile, discounts and liquidation offers at Party City continue to attract crowds to the stores.
The Throggs Neck Mall, Bronx; Broadway Plaza, Bronx; Boulevard Consumer Square, Buffalo, and Culver Ridge Plaza, Irondequoit stores remain open, according to The Sun.
The decision to close its physical stores is a hard blow to Party City, which has been the favorite destination for many shoppers for decades.
The Sun US, pointed out that around 15 states are affected by this bankruptcy as stores close.
New York, Michigan, and California are the most affected states, where the majority of store closures took place.
The store’s corporate office said they want to keep at least 800 stores operational by the end of the Chapter 11 reevaluation.
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