Yahoo Lifestyle Here's What Might Happen to Those Shuttered Party City Stores
While fans were sad to hear the news in December 2024 that all of the Party City stores were officially closing as the company goes out of business, there might just be a new life for the shops—or at least the locations.
After the closure of the stores, the locations' leases were put up for auction, with a number of familiar brands putting in their bid to take over the stores.
According to a court filing in Texas via CoStar News, there are a few store chains that successfully bid for former Party City locations.
Dollar Tree, which has headquarters in Virginia, was the top bidder, successfully bidding on 148 leases, followed by Five Below with 44 locations. Cavender's, which sells Western Wear, bid for 15 locations, followed by Rack Room Shoes with nine and Books-A-Million with 5. Other stores that successfully bid on a handful of locations included Barnes & Noble, La-Z-Boy, Zurchers Merchandise and Burlington Stores.
CoStar News also created a map showing each location: 27 in Southern California, over 30 in Texas, and over 10 in and around New York City.
Dollar Tree has reportedly been focused on expanding of late. The chain announced last May that it had purchased 170 leases formally owned by 99 Cents Only after the store went bankrupt.
Michael Creedon, Jr., Dollar Tree’s chief operating officer said of the decision at the time, "The portfolio complements our existing footprint and will provide us access to high quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”
It's likely Dollar Tree plans to use the newly acquired stores from Party City for the same purpose. According to WGN News, the successful bids still need to be approved by the court later this month.
