Noblesville, Indiana – As the curtain falls on yet another Indiana store, Party City, the preeminent party goods and Halloween specialty retailer in North America, declared recently that it would close nine more of its stores, including a Noblesville location.
The Noblesville store, situated at 17160 Mercantile Blvd, has initiated a liquidation sale and is scheduled to cease operations by June 26, provided the merchandise is not sold out before then.
A Glimpse into Party City’s Challenges
On January 17, Party City officially filed for Chapter 11 bankruptcy protection in an effort to restructure its debt and maintain operations. At the time of filing, the company owned 770 stores and had 53 franchised outlets.
Party City CEO Brad Weston stated, “As we take this important step to put our business on stronger financial footing for the future, we are as committed as ever to inspiring joy by making it easy for our customers to create unforgettable memories. We appreciate the commitment of our team members and the continued support of our partners as we further enhance our position as the ‘go to’ one-stop-shop for celebrating life’s special moments.” Following this announcement, Party City initially planned to close 22 stores, now adding another nine to the tally.
This development deals yet another blow to the retail industry, which has already seen the likes of Bed Bath & Beyond and David’s Bridal announce bankruptcy this month, casting uncertainty on the future of hundreds of stores nationwide.