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2023: Party City files for Bankruptcy protection

739 Views 11 Replies 11 Participants Last post by  The Corner of Carnage
Saw Reuters news story this morning that Party City has filed for Chapter 11 Bankruptcy protection. Heads up if you will be ordering anything.

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A number of years before the pandemic a great local party store sold out to Party City. It was a GREAT halloween shop one year they had to much stuff they rented space in the empty shop 2 doors down filled with just Halloween decor. Once they became a part of the Party City family it wasn't as good. First year of the pandemic it closed it's doors forever. While I didn't do a lot of shopping at Party City it will be missed.
 

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In my city, before it became Party City it was a Wally's Party Factory. Selection at Wally's, whether it was Halloween stuff or other stuff was more unique. When it became Party City the store layout became almost clinical. Everything laid out too perfect. Any product copied in every possible color. Seemed to have lost some imagination in what was stocked. As if the company kept the corporate buyers limited on what they could pick.
 

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My neighbors owned a local party supply store that closed after this last Halloween talked to them about that decision.

It's actually the helium shortage over the last few years that was the straw that broke the camel's back, so when they got an offer on the building, they decided it was time to sell rather than struggling to stay open. I imaging on a national scale the shortage would be disastrous.
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We had “Halloween City” popup in the location of a closed Party City last Fall, so hopefully that at least continues. Besides props, they had the biggest selection of costunes, with the exception of a Ruby’s Costume Shop near me, which also closed during Covid.
 
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I've read also that it's the lack of helium that hit Party City. They made most of their money from helium balloons. Folks come in for their balloons and pick up a few things at the same time. No balloons to pick up they get their party supplies elsewhere or not at all. Helium is limited once it's gone it's gone.
 

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I always loved their commercials for Halloween and watching all of the people dancing to thriller, you always knew it was towards Halloween when that and the Reese's commercial came on. I used to have one near a Walmart that replaced a Factory card and party outlet in the 2010's, a few years ago they left and moved to the other side of town. Hopefully all of his talk is so they can just restructure debt and not go out of bullishness.
 

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I have some good memories as a teenager shopping at Party City for Halloween. Unfortunately in my area that location shutdown for a few years then came back but in the plaza next door. Ever since that move I feel the extravagance that it used to have in years past was greatly diminished. I felt similar about Spirit when it became separate from Spencers in terms of quality of product. Spencers carried much higher grade masks and props before the creation of Spirit IMO.
 
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