Party City, iconic for decades as a birthday decor provider, is closing all 800 locations due to bankruptcy. After filing twice, the company announced its final operational day as February 28, 2024. In a last-ditch effort, Party City is selling lease rights to its locations to discount retailers like Five Below and Dollar Tree. Five Below aims to acquire 44 storefronts, while Dollar Tree seeks 148. Both retailers are poised to capitalize on the situation, reflecting the changing retail landscape as Party City exits the market.
While Party City is closing its stores after 40 years of service, competitors like Five Below and Dollar Tree are eager to acquire their locations and capitalize on the discounts.
Party City, which filed for bankruptcy twice recently, will close its 800 locations permanently, with February 28 marked as its last operational day.
The urgent deals with Five Below and Dollar Tree aim to sell rights to over 200 leases, highlighting Party City's precarious financial situation and need for quick transactions.
Both Five Below and Dollar Tree propose to take over Party City's leases, reflecting the shifting landscape of budget retail amidst Party City's downfall.
Collection
[
|
...
]