Party City’s Owensboro location at 3430 Villa Point Drive will close in mid-November, according to store management. The store is currently holding a liquidation sale as it prepares for the closure.
Management said the decision was due to a disagreement over the lease. The property is owned by Gulf Stream, while Party City’s corporate office owns the store.
Earlier this year, the Owensboro location remained open despite Party City’s parent company filing for bankruptcy and had renewed its lease. The store offers party supplies, costumes, decorations, and balloons.
Last year, Party City had over 850 stories nationwide and was the largest retailer of party goods in the United States. According to Forbes, the company was performing well financially prior to the pandemic “as the business grew and reached a revenue of about $2.35 billion in 2019.”
Finances were affected by closures during the pandemic followed by record inflation, as well as steeper competition in recent years.
