Party City, based in Woodcliff Lake, to close 9 more stores across U.S, 31 total

Daniel Munoz, NorthJersey.com
·1 min read

The Woodcliff Lake-based party supplies retailer Party City is planning to close another nine stores across six states.

The Party City chain filed for Chapter 11 bankruptcy protection in January, as it struggles with a pandemic-fueled pullback in consumer spending.

It said in January that its franchise stores, subsidiaries outside the U.S. and its coveted foil balloons business, Anagram, will not be part of its restructuring, which is expected to be finalized in the second quarter of 2023.

On April 20, the company announced plans to auction off nine additional leases come April 28, according to a release by A&G Real Estate Partners, the real estate adviser for Party City that is auctioning the stores.

A shopper leaves a Party City store in Vernon Hills, Ill., Thursday, Oct. 15, 2020. Party City Holdco Inc. has filed for Chapter 11 bankruptcy protection, Wednesday, Jan. 18, 2023 as the party supply chain confronts inflationary pressures and a pullback in consumer spending. The party supplies chain, which operates more than 800 company-owned and franchise stores throughout North America, has been long struggling with increased competition from the likes of Walmart and Target.

The leases included three locations in California, two in New York and one each in Indiana, Oklahoma, Ohio and Michigan, the press release said.

That brings the total number of store closures nationwide up to 31, including one in Woodland Park. The chain operates 823 retail locations across the country.

Barring the Woodland Park location, Party City has 26 stores in New Jersey, according to its website.

Party City doesn't expect its bankruptcy filing to affect workers at its Bergen County headquarters in Woodcliff Lake, where it employs up to 700 people, the company said in an email in January.

The news comes as home goods giant Bed Bath & Beyond announced over the weekend that it is filing for Chapter 11 bankruptcy and closing hundreds of stores across the United States. It has 13 in New Jersey.

This article originally appeared on NorthJersey.com: Party City to close more locations in US after bankruptcy filing