🎈 NJ-based company has secured a $150M loan

🎈 All Party City stores — 27 in NJ — remain open

🎈 Chapter 11 filing follows big NJ company turmoil with Bed, Bath and Beyond


New Jersey-based Party City Holdco has filed for bankruptcy protection — while assuring customers that its stores remained open.

The party supply retailer that is headquartered in Woodcliff Lakes has a restructuring plan and a $150 million bankruptcy loan secured, according to a news release issued Tuesday.

On Wednesday, a federal judge gave approval for the company to use half of that amount — $75 million — to keep paying employees and vendors.

Party City would now work toward getting out of $1.4 billion of debt, as reported by Bloomberg Law.

Party City Chapter 11 bankruptcy filing store in East Hanover (Google Maps)
Party City in East Hanover (Google Maps)
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Party City’s humble NJ beginnings

Party City was founded in 1986 by Steve Mandell.

After seeing an opportunity within the party supplies market, he opened a 4,000-square-foot store in East Hanover. The company was then incorporated in 1990.

Over decades, it has grown to more than 800 locations and franchise stores — including 27 stores now in NJ.

Party City stores in NJ (PartyCity.com, Townsquare Media)
Party City stores in NJ (PartyCity.com, Townsquare Media)
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🎈 730 US-202, Bridgewater Township, NJ 08807 Phone: 848-305-6013

🎈 1255 Raritan Road, Clark, NJ 07066   Phone: 201-499-4106

🎈 385 NJ-3, Clifton, NJ 07014 Phone: 862-414-8164

🎈 4004 US 130, Delran, NJ 08075 Phone: 856-393-2979

🎈 1500 Almonesson Road, Deptford, NJ 08096 Phone: 856-381-4442

🎈 346 NJ-10, East Hanover, NJ 07936 Phone: 973-739-8771

🎈 50 NJ-36, Eatontown, NJ 07724 Phone: 732-440-3176

🎈 509 River Road, Edgewater, NJ 07020 Phone: 201-282-6856

🎈 3082 State Highway 35 Hazlet, NJ 07730 Phone: 732-931-2048

🎈 4771 US Route 9, Howell, NJ 07731 Phone: 732-835-7778

🎈 733 State Highway 440, Jersey City, NJ 07304 Phone: 201-984-4034

🎈 2450 Route 22, Kenilworth, NJ 07033 Phone: 908-514-4553

🎈 530 Consumer Square, Mays Landing, NJ 08330 Phone: 609-829-3193

🎈 2148 North 2nd Street, Millville, NJ 08332 Phone: 856-776-7592

🎈 1180 Nixon Drive, Mt. Laurel, NJ 08054 Phone: 856-444-5058

🎈 3149 Kennedy Boulevard, North Bergen, NJ 07047 Phone: 201-381-5766

🎈 669 South Route 17, Paramus, NJ 07652 Phone: 201-345-2514

🎈 670 Nassau Park Boulevard, Princeton, NJ 08540 Phone: 609-454-8221

🎈 357 Mount Hope Ave, Rockaway, NJ 07866 Phone: 973-453-3123

🎈 611 Cross Keys Road, Sicklerville, NJ 08012 Phone: 856-513-2058

🎈 7000 Hadley Road, South Plainfield, NJ 07080 Phone: 908-412-8000

🎈 180 Marketplace Boulevard, Trenton, NJ 08691 Phone: 609-631-5992

🎈 79 Route 73, Voorhees, NJ 08043 Phone: 856-346-7143

🎈 1684 Route 22 East, Watchung, NJ 07069 Phone: 908-540-0671

🎈 1625 Route 23, Wayne, NJ 07470 Phone: 973-317-9171

🎈 455 Green Street, Woodbridge, NJ 07095 Phone: 732-734-0088

🎈 1756 Route 46 West, Woodland Park, NJ 07424 Phone: 973-321-1869


Rocky start to 2023 for another big NJ company

The news of Party City's restructuring comes within a week of Bed Bath & Beyond announcing another round of store closures, including a combined four Buybuy Baby and Harmon stores in New Jersey.

The Union Township-based company suffered a dismal end to 2022 and has been struggling through inflation and increased competition from online retailers.

Chapter 11 filing has not always been a "final" chapter for big retailers, as some have managed to pull through a restructuring.

Big companies that survived, and thrived, after bankruptcy

There have been some big name brands that declared bankruptcy and built back, stronger — some with New Jersey ties.

From an automaker to theme park company and mall food court staple, here’s at least six successful restructuring stories.

Erin Vogt is a reporter and anchor for New Jersey 101.5. You can reach her at erin.vogt@townsquaremedia.com

Click here to contact an editor about feedback or a correction for this story.

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