1 week Ago
CHAMPAIGN — A nationwide retailer of costumes and party supplies has announced mass closures of its stores. This includes its Champaign location, which could be closed by the end of the month. Party City, located at 2019 N.
Prospect Ave., has posted signs advertising closing sales as it prepares to shut its doors. According to a listing by the Matanky Realty Group, the 11,500-square-foot space is available to lease starting Jan.
31. More information is available at loopnet.com .
Party City Holdco Inc. has filed for Chapter 11 bankruptcy and recently announced plans to "commence a wind down of its retail and wholesale operations and going out of business sales" at its approximately 700 stores across the United States. "The decision was made following exhaustive efforts by the Company to find a path forward that would allow continued operations in an immensely challenging environment driven by inflationary pressures on costs and consumer spending, among other factors," company officials said in late December.
They added that over 95 percent of the chain's 12,000 employees would be retained "for some time to assist with the wind down process.".
