What was once a go-to destination for party supplies and decorations, is now ready to turn out the lights for good.
Retail Brands That Closed Locations In 2024
While all of 2024 was rough for retail stores, the past three months have especially been bad. Multiple long-time chains and brands have either filed for bankruptcy or started the process of closing locations.
In just the past three months alone, we’ve seen:
NOTE: FULL LIST OF CLOSED RETAIL CHAINS FOLLOWS BELOW
All highly recognizable names that have been hit hard by lagging sales and increasing operating costs. We can now add yet another name to the list.
Party City Closing
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Why Party City Is Closing Every Location
Party City really wanted to turn things around. In August, RetailDive.com reported the chain hired a “turnaround vet” as its new CEO in hopes of reversing its fortunes.
Sadly, it didn’t work. CNN reported Friday that CEO Barry Litwin informed employees that Party City would close all locations after “winding down” business over the coming weeks.
The report stated that employees had been informed Party City would be closing all stores on Feb. 28.
Party City Closing in 2025
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Axios found the New Jersey-based Party City had been struggling financially even before the pandemic hampered businesses in 2020. By the time 2023 rolled around, the chain had found itself filing for bankruptcy.
Party City, which bills itself as “North America’s largest party goods retailer,” exited bankruptcy this past fall. According to its website, the brand has more than 700 company-owned and franchise store locations throughout North America and a handful of stores in Asia.
Big Brands Closing Locations in 2024
Here is a look at some of our favorite big brands that will be closing locations in an effort to stop losing money at stores that are underperforming.
Gallery Credit: Billy Jenkins
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