Party City auctioning off 26 NJ leases amid bankruptcy
By: Daniel Munoz
NorthJersey.com
USA Today Network - New Jersey
..... Party City is putting up 26 of its New Jersey store leases for sale amid its ongoing bankruptcy proceedings, said A&G Real Estate Partners, which is acting as a real estate adviser for the beleaguered chain and conducting the auction.
.....
They include locations across North, Central and South Jersey, the auctioneer said.
..... The Woodcliff Lake-based party store chain with hundreds of locations across the country is shutting down early this year. [2025]
..... At its peak, the company operated more than 800 stores.
..... But
Party City faced financial challenges in recent years, including inflation, reduced consumer spending, and more competition from Online retailers.
..... In addition, a helium shortage took the air out of the company's balloon sales, a key component of its business.
.....
Last year, [2024] Party City scrubbed nearly $1 billion in debt from its books in bankruptcy, but it still struggled to stay afloat.
.....
The locations up for lease encompass a "large and diverse store portfolio, with good real estate and a great many stores located in high-traffic shopping centers," said Emilio Amendola, A&G's co-president. the auction will likely be in early February. [2025]
..... These are the New Jersey locations up for auction:
* Bridgewater
*Clark
*Clifton
* Delran
* Deptford
* East Burnswick
* East Hanover
* Eatontown
* Edgewater
* Hamilton
* Hazlet
* Howell
* Jersey City
* Kenilworth
* Mays Landing
* Millville
* Mount Laurel
* Paramus (Route 4)
* Paramus (Route17)
* Princeton
* Rockaway
*
Sicklerville
* Voorhees
* Watchung
* Wayne
* Woodbridge
This article contains information from USA Today.