ICYMI Party City is closing 3 New York stores, among 22 nationwide
Party City, the New Jersey-based party-supply retailer, filed for Chapter 11 bankruptcy in January and announced last week that it plans to auction off 12 stores across the U.S. and close another 10, with the possibility of more to come.
The two Manhattan stores to be shuttered are located at 223 West 34th St. and 301 West 125th Street. The Bronx location is at Broadway Plaza, located at 171 West 230th St. It is unclear when the store closures will take place, although it is likely imminent. The retailer operates more than 800 stores nationwide, with the vast majority company owned. Party City had already closed 28 stores prior to the announcement.
The company does not plan to close all of its stores. It has filed for bankruptcy as a means to restructure its debt. “As we take this important step to put our business on stronger financial footing for the future, we are as committed as ever to inspiring joy by making it easy for our customers to create unforgettable memories,” Party City CEO Brad Weston said in a statement.
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