Party City Holdco Inc., the holding company for New Jersey-based party supply store Party City, announced the “wind down” of all its business and locations across the nation, according to a Saturday press release.
The decision was made following a bankruptcy announcement in 2023, which alleviated the company of $1 billion in debt, and efforts made by the company to navigate inflationary pressures on costs and a drop in consumer spending.
Party City is retaining more than 95% of its 12,000 employees for some time to assist with the wind down process which includes going out of business sales. The company has filed customary motions with the court seeking authority to commence going out of business sales.
Part City has around 700 locations across the country and 11 locations in Wisconsin, according to its website:
- Brookfield: 285 Discovery Dr.
- Greenfield: 5058 S. 74th St.
- Kenosha: 7150 Green Bay Road
- Brown Deer: 9150 N. Green Bay Road
- West Allis: 6718 W. Greenfield Ave.
- Green Bay: 831 S. Military Ave.
- Madison: 2139 Zeier Road, 223 Junction Road
- Onalaska: 1228 Crossing Meadows Dr.
- Racine: 2619 S. Green Bay Road
- Grand Chute: 613 N. Westhill Blvd.
All Wisconsin locations remain open as of Monday, Dec. 23.
A representative from Party City was not immediately available for comment.
