Party City Bankruptcy Auction Sees 370+ Store Leases and IP Sold
Source:Holiday Party /
Time:2026-09-12
Party City's bankruptcy proceedings resulted in the sale of its intellectual property and more than 370 store leases across the United States. The retailer's collapse left a significant gap in the party supply market, which competitors like Michaels and online retailers are now rushing to fill.
The closure affected thousands of party planners who relied on Party City's extensive balloon inventory, costume selection, and one-stop party supply model. The brand's IP was acquired by a buyer planning to revive it through the Staples partnership, signaling confidence in the enduring demand for party products .
