After longtime party supplies store Party City announced last month that all stores would close as the retailer goes out of business, sales on each store’s entire inventory are underway ahead of store closures.
Sales on remaining items in the inventory are available for up to 75% off, an increase from an initial announcement last month that promoted items for sale for up to 50% off.
The closures mark the end of the retailers’ nearly four decades in business.
CNN reported last month Party City CEO Barry Litwin told corporate employees during a meeting Friday that the company is “winding down” operations, adding that their last day of employment would be Dec. 20, 2024.
“It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome,” Litwin said during the meeting, according to CNN’s reporting cited by multiple outlets. “Unfortunately, it’s necessary to commence a winddown process immediately.”
In 2023, the New Jersey-based party supply chain filed for Chapter 11 bankruptcy protection after struggling with rising prices and a pullback in customer spending. The company had planned to close 22 stores as a result.
At the time, the company said its franchise stores, subsidiaries outside the U.S. and its foil balloons Anagram business are not part of the restructuring and will remain core components of its business.
According to Party City’s website, there are 32 stores currently operating in Illinois, 25 of which are located in the Chicago area.
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