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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.
Editor's note: Some Party City locations have since announced plans to stay open. Read more here. New Jersey-based Party City is going out of business after the retailer filed for Chapter 11 ...
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 ...
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 many small mom-and-pop operations. He noticed that a large number of retailers carried limited supplies.
The store was the third Lord & Taylor to open in the Dallas area. [25] In April 1990, Mervyn's purchased the store for an undisclosed sum, intending it as a larger replacement for its existing Plano store. [26] The store was closed for renovation and re-opened in October. [27] The store was closed in 2006 when Mervyn's exited the North Texas ...
Party City to close after 40 years, citing financial woes. Employees blindsided by sudden layoffs, no severance, and February 2025 store closures.
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