Retailer Party City, which declared bankruptcy in January, will close 10 stores and auction off another 12 in the coming weeks, with one suburban location slated for closure.
According to the filing, one of the stores slated for closure is the company’s location in suburban Bradley, with closing sales expected to occur in coming days.
Another location in Holland, Michigan is also among the 10 that will cease operations, according to the filing. The company also plans to auction off 12 stores across the U.S. in six states, with three Michigan stores among those to be sold off. Locations in Jackson, Fort Gratiot and Benton Harbor will be sold.It is unclear when the store closures will take place, and the company says more closures could potentially occur., with most clustered in the Chicago area.
Party City, based in New Jersey, filed for Chapter 11 bankruptcy protection in mid-January. The company operates more than 800 stores, and owns a vast majority of those locations, according to court documents.
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