CNN is reporting that Party City is closing all its U.S. stores. This will most likely include the ten Party City stores in Minnesota and the six in Iowa.
The well-known party supply company has faced financial problems and filed for bankruptcy protection for the second time in two years. This means they don’t have enough money to keep their stores open.
The company says that by the end of February 2025, all U.S. Party City stores will be closed. However, their stores in Canada will stay open because they are owned by Canadian Tire.
Why Is Party City Closing All U.S. Stores?
Party City has been struggling with debt and changes in how people shop, especially after the COVID-19 pandemic…