Party City is planning to close 22 stores after filing for bankruptcy — here's the full list

Party City plans to close nearly two dozen stores.

Daysi Calavia-Robertson/Newsday RM via Getty Images

• Party City says it's closing 22 stores after filing for Chapter 11 bankruptcy protection in January.
• The retailer is auctioning off 12 stores, with another 10 scheduled to close in February.
• The pandemic hit Party City hard, and subsequent supply-chain challenges have hampered sales.

Party City plans to close nearly two dozen stores in the US following its bankruptcy filing last month. 

The party-supplies retailer says it will auction off 12 stores in six states and close another 10 in February, with the possibility that more will close later, according to documents filed in bankruptcy court Thursday.

The stores already up for auction range in size from 9,000 to 28,000 square feet and are located in shopping centers, strip malls, city streets, or are freestanding, according to A&G Real Estate Partners, the real-estate advisor auctioning the stores.

Party City had already closed and vacated 28 additional stores in 13 states prior to filing for Chapter 11 bankruptcy protection on January 18, and it is now asking the court to release it from those leases, Retail Dive reported. The chain operates 823 retail locations, 770 of which were company-owned, according to court documents filed in January.

The retailer has struggled since the onset of the coronavirus pandemic. Sales lagged during lockdowns, and supply-chain disruptions in the years since have hampered inventory levels and helium has been in short supply, Reuters reported.

Here's a list of the stores closing so far: 

Georgia

• Rome: 2702 Martha Berry Rd.
• Cartersville: Cartersville Crossing, 451 E Main St.

Iowa

• Waterloo: Crossroads Commons Shopping Center, 1415 Flammang Dr. 

Illinois

• Bradley: Bradley Commons, 2060 N State Rte. 50

Louisiana

• Slidell: Stirling Slidell Shopping Center, 61119 Airport Rd.

Michigan

• Holland: Felch Street Shopping Center, 3050 Beeline Rd., Ste. 20
• Fort Gratiot: 4047 24th Ave. 
• Benton Harbor: Fairplain Plaza, 1040 Fairplain Dr. 
• Jackson: Jackson Crossing, 1510 N West Ave.

Missouri

• St. Joseph: East Hills Shopping Center, 3702 Frederick Ave., Ste. L12 
• Belton: Belton Gateway, 541 East Markey Pkwy.

New Jersey

• West Paterson: Mcbride Lenox Plaza Shopping Center, 1756 Route 46

New York

• New York: 223 W 34th St.
• New York: 301 W 125th St. 
• Bronx: Broadway Plaza, 171 W 230th St. 
• Buffalo: Boulevard Consumer Square, 4090 Maple Rd.
• Irondequoit: Culver Ridge Plaza, 2255 E Ridge Rd. 

Oklahoma

• Lawton: Cache Road Square, 3801 NW Cache Rd., 19B 

Oregon

• Corvallis: Circle 9 Shopping Center, 944 NW Circle Blvd.

Texas

• Corpus Christi: Five Points Shopping Center, 4101 Hwy. 77, Ste. K2 

West Virginia

• Beckley: Raleigh Mall, 4283 Robert C. Byrd Dr.
• Martinsburg: Martinsburg Mall, 800 Foxcroft Ave.

Correction: February 20, 2023 — An earlier version of this story misidentified the state home to one of the announced Party City closings. Party City said it would auction off 12 stores in six states, not seven, including a location at 1510 N West Ave. in Jackson, Michigan, not Jackson, Mississippi.

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Contributer : Business Insider https://ift.tt/SurAxjL

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