Party City, a national chain with four stores in the Kansas City area, will officially close its locations in Independence, Liberty, Lee’s Summit, and Overland Park next year. The company announced plans to wind down operations immediately after CEO Barry Litwin informed corporate employees of its decision.
Employees at affected stores were told they would close sometime in February and would no longer accept balloon orders after January 1. Store hours will remain unchanged until the closures take place.
Party City, which sells balloons, costumes, and other decorations, is facing increased competition from online retailers like Amazon and larger brick-and-mortar retailers like Walmart. The company filed for bankruptcy in January 2023 but exited bankruptcy in September of that year. Despite this, it has struggled to stay afloat due to a significant debt load of around $800 million.
The company has previously closed two Kansas City area locations in the past two years, including one at Merriam Town Center and another in the Northland. The remaining stores will be among the last to close, marking the end of Party City’s presence in the local market.
Source: https://www.kansascity.com/news/business/openings-closings/article297403650.html