As most already know, Party City announced in December they’ll be going out of business “immediately” and shuttering all locations. The company previously filed for bankruptcy in 2023 but they still struggled with slow sales and financial troubles.
The locations’ leases were auctioned off on Friday and names of the top bidders have been revealed in a Texas court.
A well known top bidder was Dollar Tree, that had a winning bid for nearly 150 former Party City locations.
Another familiar discount retailer Five Below has a winning bid for more than 40 leases.
Other retailers bidding for some of the empty Party City stores include Barnes & Noble, Books-A-Million, Burlington Coat Factory, Rack Room Shoes, La-Z-Boy, and Western wear brand Cavender’s.
A scheduled hearing to approve the transfer of leases will take place at the end of the month in a Houston court.
By - VC
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