Connect with us

Bussiness

Party City is closing. Info on sales, South Jersey locations and more.

Published

15 hours ago

on

Party City is closing. Info on sales, South Jersey locations and more.

play

New Jersey-based Party City is going out of business after the retailer filed for Chapter 11 bankruptcy.

The filing was done in the U.S. Bankruptcy Court for the Southern District of Texas. Party City has already emerged from a previous bankruptcy last year with approximately $1 billion less in debt.

Like many other retailers, Party City marked down prices in September — on more than 2,000 items by an average of 20% — to attract skittish customers and drive sales.

Party City CEO Barry Litwin told corporate employees in a meeting Friday that Party City is “winding down” operations immediately and that they would be out of a job, according to CNN. The outlet also reported that all store closures would happen by February.

Party City stores closing in South Jersey

In South Jersey, there are five locations that will be closing:

  • 1180 Nixon Drive, Mount Laurel.
  • 4004 US-130 Suite 8, Delran.
  • 1500 Almonesson Road B-3C, Deptford.
  • 79 NJ-73, Voorhees.
  • 611 Berlin – Cross Keys Rd C-329 and C-333, Turnersville.

Will there be closing sales?

All Party City items are already up to 50% off, according to the store’s Instagram account.

The company will also put its assets up for bidding or, if there’s no sale, “initiate store closing sales to liquidate all of the Party City Group Companies’ retail and wholesale inventory and locations,” according to the court filing.

Nick Butler is an impact reporter for the Courier Post, the Daily Journal and the Burlington County Times covering community news in South Jersey. Have any tips or stories? Reach out to NButler@Gannett.com. Subscribe to stay in the loop.

Related Topics:
Continue Reading