Party City Going Out of Business After Nearly 40 Years

The company would start a wind down of its retail and wholesale operations as it prepares to shutter nearly 700 stores nationwide.

A Party City store in Daly City, Calif., on Dec. 20, 2024. Justin Sullivan/Getty Images

Party City is closing stores after nearly four decades of business.

The company announced on Dec. 21 that it would start a “wind down” of its retail and wholesale operations as it prepares to shutter nearly 700 stores nationwide. The company has also filed for Chapter 11 bankruptcy protection for the second time in less than two years “to maximize value for the benefit of the company’s stakeholders.”