PARTY City opened its first store with a new format after emerging from bankruptcy last year.
The company is eliminating traditional aisles to offer customers a new retail experience.
two
Party City is set to reopen stores under a new format after emerging from bankruptcy.
The first redesigned store opens Saturday, May 25, in Gaithersburg, Maryland.
Inside, buyers can expect a completely different layout than they have experienced before.
“We moved away from the traditional aisle experience and developed two birthday worlds within each store,” said Dion Miliaresis, vice president of merchandising at Party City.
“One is dedicated to children’s birthdays and the other for general birthday celebrations.
“They are complete mini-stores, with everything gathered in one place – which makes it easy for the customer to find everything they need and, hopefully, discover some surprises and fun ideas to add to their celebration along the way.”
The Gaithersburg store is one of several locations across the country where the new format will be introduced, with additional locations expected to open in 2024.
Shoppers at the Gaithersburg store can take advantage of several special offers on reopening day.
This includes 25% off a single item for all customers, 10% off in-store balloon orders, and a $25 gift card for the first 25 customers.
Party City remains the largest party supplies retailer in the US following its bankruptcy restructuring.
In January 2023, Party City Holdco Inc.. filed for Chapter 11 bankruptcy, citing the pandemic and changing consumer behavior.
Meanwhile, exorbitant helium prices proved particularly difficult for the brand’s balloon sales business.
The company was able to secure $150 million in financing and cut $1 billion in debt during the restructuring.
Party City Bankruptcy Timeline
Early 2023 – rumors begin to circulate that Party City intends to file for bankruptcy
January 2023 – Party City files for Chapter 11 bankruptcy protection, secures $150 million loan
January – September 2023 – Party City closes 39 stores nationwide
September 2023 – Party City emerges from bankruptcy with $1 billion debt reduction
May 2024 – Party City reopens its first store in a new format
Only 39 of its 800 stores closed.
The closed stores were what the company described as “less productive locations.”
Although Party City survived bankruptcy in 2023, other retailers that also filed for Chapter 11 around the same time were not so lucky.
Tuesday morning closed and closed all 700 stores in July.
It now exists solely as an online retailer.
LOOKING TO THE FUTURE
Party City has also expanded its e-commerce potential.
In June, it joined the Uber Eats platform, offering customers delivery in up to one hour.
Here are two popular retailers that are sending $15 coupons to select shoppers.
And check out the changes to Sam’s Club opening hours later this month.
This story originally appeared on The-sun.com read the full story
