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In 2017, Party City purchased its franchised locations in the Carolinas. [17] In 2012, Advent International, Berkshire Partners LLC and Weston Presidio sold a majority stake in Party City to Thomas H. Lee Partners. In 2015, Party City Holdco Inc went public with Thomas H. Lee Partners retaining 55% and Advent International owning 19 percent.
On Dec. 21, Party City filed in the U.S. Bankruptcy Court for the Southern District of Texas, after already emerging from a previous bankruptcy in 2023 with about $1 billion less in debt.
LOS ANGELES (AP) — For nearly 40 years, customers flocked to Party City for Halloween costumes, favors for children's birthday parties and decorations for New Year's Eve celebrations.
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
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