# Party City **Source:** https://geo.sig.ai/brands/party-city **Vertical:** Consumer Retail **Subcategory:** General **Tier:** Unknown **Website:** partycity.com **Last Updated:** 2026-04-14 ## Summary Former US party supply retail chain leader that filed Chapter 11 in January 2023 and closed all ~800 stores in 2024; wholesale Amscan/Anagram party goods business operated separately post-retail liquidation. ## Company Overview Party City is a specialty retail chain that was the US market leader in party supplies, costumes, balloons, and seasonal celebration merchandise — operating approximately 800 stores across North America and through a significant wholesale and party goods supplier business (AMSCAN) that supplied party goods to wholesale clubs, dollar stores, and other retailers. Party City Holdings filed for Chapter 11 bankruptcy for the second time in January 2023 and ultimately ceased retail operations, closing all remaining stores in 2024 after failing to find a buyer for the retail chain. Party City's business combined the retail party store chain with the wholesale party goods manufacturing and distribution business through its Anagram and Amscan divisions. The Amscan wholesale division (which manufactured and distributed metallic balloons, costumes, and party supplies to over 40,000 retail outlets worldwide) was the more valuable business. The retail chain struggled with the same headwinds affecting specialty retail broadly: e-commerce competition (Amazon), dollar store and Walmart expansion in party supplies, and high fixed costs from the store lease portfolio. Helium supply shortages in 2019 and 2022 particularly impacted the balloon business. In 2025, Party City no longer operates retail stores following the 2023-2024 liquidation. The wholesale party goods business (Amscan/Anagram) may have been separately acquired or continue under different ownership. The party supplies retail category has partially shifted to Amazon (which now carries extensive party supplies), Target, and Walmart party departments, and online-first party supply retailers. Spirit Halloween (seasonal Halloween retailer) has grown in importance for seasonal costume retail. The Party City trademark and brand assets may have been acquired through the bankruptcy proceedings for potential future use in a different retail format or licensing arrangement. ## Frequently Asked Questions ### What is Party City? Party City filed Chapter 11 bankruptcy January 2023 ($1.7B debt restructuring emerged, 800+ stores party supplies/costumes/balloons, Halloween 40% annual revenue, Spirit Halloween temporary competition). Founded 1986 New Jersey. 2012 private equity $2.7B LBO overleveraged. ### When was Party City founded? Party City was founded in 1986 in New Jersey. Founded 1986 New Jersey by Steve Mandell (party supply). 2012 PE $2.7B LBO debt. January 2023 bankruptcy restructured emerged. Halloween 40% revenue. Spirit Halloween competition. 800 stores. ### What are Party City's major milestones? Party City's history includes several key milestones: In 1986, Party City Founded New Jersey: Steve Mandell. Party supply retail. In 2012, PE LBO: $2.7B Overleveraged Debt: Private equity. Halloween 40% revenue seasonal. In 2023 Jan, Chapter 11 Bankruptcy: $1.7B Debt Restructured Emerged: Spirit Halloween temporary competition. Amazon party supplies. 800 stores. 16K employees. ### What is Party City's mission? Party City's mission is to To make every celebration special by providing party supplies, decorations, and costumes for all occasions at convenient retail locations. ### Who founded Party City? Party City was founded by Steve Mandell. Party City founded 1986 New Jersey by Steve Mandell (party supply retail). 2012 PE $2.7B LBO overleveraged debt. January 2023 bankruptcy restructured $1.7B debt emerged. Halloween 40% revenue. Spirit Halloween competition. 800 stores. 16K employees. ### What led to Party City's final closure? Party City filed for Chapter 11 bankruptcy in January 2023 and ultimately liquidated all retail operations through 2024 after failing to find a buyer for the chain. The company faced multiple simultaneous pressures: helium supply shortages that hurt balloon sales (a core party supplies product), competition from Amazon and dollar stores that eroded commodity party supply sales, real estate costs from 800+ store leases, and debt from private equity ownership. The retail chain's closure was one of the notable specialty retail failures of the post-pandemic period as the category shifted toward online and general merchandise channels. ### What was Party City's Amscan wholesale business? Party City's Amscan and Anagram divisions manufactured and distributed party goods wholesale to mass retailers, dollar stores, and wholesale clubs — a business that continued operating separately from the retail chain. Amscan was one of the largest party goods manufacturers in the world, producing balloons, paper goods, costumes, and decorations that were sold under various brand names through channels beyond Party City's own stores. The wholesale manufacturing business had meaningful independent value separate from the retail chain and was part of the restructuring discussions during the bankruptcy process. ### What product categories did Party City specialize in? Party City sold party supplies, costumes (one of the largest Halloween costume retailers in the US before Spirit Halloween's rise), balloons (including helium-filled foil balloons, its signature category), tableware (plates, cups, napkins in themed collections), decorations (banners, streamers, centerpieces), and seasonal merchandise for holidays from Halloween to Mardi Gras. The chain's themed party supply collections (licensed characters, color schemes, occasions) differentiated it from generic dollar store alternatives, though competitors like Amazon and online specialty retailers increasingly offered comparable selection with the convenience of home delivery. ## Tags b2c, retailtech --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*