Party City to Auction Nearly 700 Store Leases Amid Chapter 11 Bankruptcy, Plans to Shut Down by Feb 28

Jan 3, 2025, 05:26 PM

Party City, a 40-year-old retailer, has filed for Chapter 11 bankruptcy and plans to auction off nearly 700 store leases next month. The auction includes locations across various states such as Colorado, Arkansas, Massachusetts, Michigan, Nevada, Illinois, California, South Carolina, New York, Wisconsin, Georgia, and Maryland. This move comes as part of the company's strategy to manage its financial difficulties, which have led to the decision to shut down all its stores by February 28.