Party City has officially announced plans to commence a wind down of its retail and wholesale operations and going out of business sales at its approximately 700 stores nationwide. This comes after serving Party City customers for nearly 40 years as their one-stop-shop for all things celebration.
Contra Costa County locations include:
These are the areas overall in California where Party City is located, according to its website.
- City of Brentwood
- City of Pleasant Hill
- City of Richmond
Here is the letter issued on its website:
To Our Valued Customers,
For almost four decades, we have been proud to be your one-stop-shop for all things celebration. It’s been our honor to be there for you to help mark what matters most – the experiences and milestones shared with family, friends, colleagues, and community – and we hope that we have made it easy for you to create unforgettable memories that will last a lifetime.
Given our long history supporting our customers’ most joyous moments, it is all the more difficult to share that we will soon be closing our doors. Like many retailers, we’ve been operating in an immensely challenging environment with inflationary pressures on both costs and consumer spending, and while we did everything we could to navigate these headwinds, our very best efforts were ultimately not enough to overcome these challenges.
Party City isn’t going away just yet, however.
Our stores are currently open, and we are offering incredible deals and deep discounts on merchandise at our locations nationwide. We invite you to hurry in right away to stock up on everything – from holiday and New Year’s Eve decorations to birthday party supplies and beyond – while the selection is best!
It has been a true pleasure to be a part of your most special moments over the years. And, in the coming weeks, we hope you stop by to say goodbye and pick up your favorite items, whether you’re organizing a big celebration now or planning ahead for milestone moments to come.
On behalf of the entire Party City team, we would like to express our deepest gratitude for your valued business and for being a part of our extended family.
From the bottom of our hearts, we thank you,
Your Party City Team
PCHI to Commence Wind Down of Party City Stores and Wholesale Operations
Stores Remain Open Nationwide for Going Out of Business Sales
Customers Encouraged to Take Advantage of Deals and Discounts While Supplies Last
WOODCLIFF LAKE, N.J., December 21, 2024 – Party City Holdco Inc. (“PCHI” or the “Company”) today announced plans to commence a wind down of its retail and wholesale operations and going out of business sales at its approximately 700 stores nationwide after serving Party City customers for nearly 40 years as their one-stop-shop for all things celebration.
The decision was made following exhaustive efforts by the Company to find a path forward that would allow continued operations in an immensely challenging environment driven by inflationary pressures on costs and consumer spending, among other factors.
To accomplish an orderly wind down in the most efficient manner and to maximize value for the benefit of the Company’s stakeholders, PCHI and certain of its subsidiaries voluntarily filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas.
These proceedings follow the Company’s 2023 restructuring through which PCHI eliminated nearly $1 billion in debt, among other things. As with many other retailers, macroeconomic headwinds more recently proved too severe for the Company to overcome.
PCHI is grateful to its team members for their commitment over the years and is retaining more than 95% of its 12,000 employees for some time to assist with the wind down process. The Company thanks its customers for their business and appreciates the support it has received from its valued partners.
During the going out of business sales, shoppers at Party City stores will be able to take advantage of incredible deals and deep discounts on amazing merchandise while supplies last. Customers are encouraged to shop now for everything ranging from birthday party supplies to decorations for the holidays and New Year’s Eve while the selection is best. A store location finder can be found on partycity.com.
The Company has filed customary motions with the Court seeking authority to commence going out of business sales and uphold its commitments to employees during the wind down. PCHI’s senior lenders have committed to provide the financial support necessary to fund operations through the wind down, subject to Court approval.
Additional information, including Court filings and information about the claims process, is available at https://cases.ra.kroll.com/PCHI2024/. Suppliers with questions can call (877) 510-9565 (toll-free) and +1 (646) 798-8469 (international) or email [email protected].
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Porter Hedges LLP are serving as legal counsel and AlixPartners, LLP is serving as financial advisor to PCHI. The Company has retained Gordon Brothers to supervise the going out of business sales under the Company’s management.
About Party City Holdco Inc.
Party City is a global leader in the celebrations industry, delivering joy and inspiration to customers across more than 70 countries. As North America’s largest party goods retailer, Party City is the go-to shopping destination for every type of celebration, offering an extensive and innovative selection of products at exceptional value.
The company has approximately 700 company-owned and franchise store locations across North America and sells online to consumers at www.partycity.com. The company also operates Amscan, a premier designer, manufacturer, and distributor of celebration products including décor, tableware, costumes, and accessories.
Headquartered in Woodcliff Lake, N.J., with additional locations in the Americas and Asia, Party City is committed to helping customers create unforgettable moments for every occasion.