Four Columbus-area Party City store locations are up for auction next month. The New Jersey-based retailer in December said it would be going out of business after nearly 40 years. That means closing its more than 850 stores across the country.
A new report predicts this year will only get worse for the already-struggling retail sector, with the number of location closings expected to double. It’s no secret that 2024 was a tough year for many retailers.
Party City is slated to close at least 700 locations in 2025, while other retail chains are shutting down stores for a variety of reasons.
Store closures in the U.S. spiked in 2024 and are expected to rise to about 15,000 this year, according to Coresight Research, a retail advisory group.
Big Lots closing sale signs say up to 50% off at some location, and Party City is also starting liquidation sales at all 700 of its stores. As shoppers often find, the closing deals may not be a great deal. The problem with liquidation sales is that the big markdowns don't come in the first couple of weeks.
Big Lots' new owner has put the leases for more than 500 stores — including all 10 in the Houston area — up for sale.
Big Lots is part of a larger chain of big box stores shutting their doors. Kohl's will close 27 underperforming stores across the country. In December, Party City said it will close all its ...
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CVS is the next up to close stores in Connecticut. Their locations on 777 Main St. and 690 Wethersfield Ave. will be closed by mid-March. CVS said people will have access to their prescriptions at the other two stores in Hartford,
Retailers are facing relentless competition from controversial fast fashion companies Shein and Temu, according to Coresight Research, which anticipates 15,000 retail closures this year.
The new year has begun with a wave of store closings, particularly for the home furnishings segment, but also for the retailing business in general.