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Party City to close after 40 years, citing financial woes. Employees blindsided by sudden layoffs, no severance, and February 2025 store closures. Party City is reportedly closing all of its stores
Party City History. Founded in 1986, the New Jersey-based retailer grew to become the largest party supply store in the United States. By 2021, the company employed approximately 6,400 full-time ...
Party City, once among the top names in party-supply retailers, is going out of business, according to an announcement from CEO Barry Litwin that was viewed by CNN.
Facade of a Party City store in The Woodlands, Texas. Party City was founded by Steve Mandell in 1986. Mandell recognized that the market for party goods was highly fragmented with a lot of small mom-and-pop operations and noticed that a large number of retailers carried limited supplies.
At its peak, the store had locations in both New York City and Los Angeles. In addition, the firm invented the big box concept where all non-clothing lines were leased by other retailers. [citation needed] Rogers Peet – New York City based men's clothing retailer established in late 1874. Among the chain's innovations: Rogers Peet showed ...
The stores would transition to Food Lion branded locations in the first half of 2021. [48] [49] In addition Southeastern announced it will divest the assets of 57 of the in-store pharmacies it operates under the BI-LO and Harveys Supermarket banners to CVS Pharmacy and Walgreens. These locations include all of the company's BI-LO pharmacies and ...
Party City, which operated about 750 stores, had filed for Chapter 11 bankruptcy in January 2023 and emerged from the process in October 2023 with $1 billion less in debt. It also named a new CEO ...
Party City is closing down all of its stores, ending nearly 40 years in business, CNN has learned. CEO Barry Litwin told corporate employees Friday in a meeting viewed by CNN that Party City is ...