Party City and Big Lots closing all stores

[SomeGuy]

https://www.google.com/amp/s/amp.cnn...closures-sales
https://amp.cnn.com/cnn/2024/12/20/b...city-shut-down
A bit shocked but not surprised, both companies seemed to had problems with higher than average prices and the state of some their stores either having too much or too little merchandise. I Feel bad for the employees.

[FighttheGoodFight]

Well that stinks, Party City was great for getting balloons and other items for my kiddos parties.

[Pete]

Yet another hit (Big Lots) to the shopping center on the NW corner of NW 63rd & May.

They have already lost Akins and Mademoiselle. Not much left except for Petsmart.

[scottk]

...and another bites the dust.

My understanding is TODAY (Friday, December 20) is the final day for Party City. No going out of business sale. If you need Christmas or New Year's decor, I guess today is your day.

Party City was great for themed party decor. Yes, it was typically more expensive, but everything was in one spot, licensed merchandise and a huge variety of options.

Hobby Lobby or Michael's seems like the closest alternative for party decor. Amazon is such a mixed bag in quality with what you can get or dealing with shipping delays if you need it quickly.

[jn1780]

This makes Spirit Halloween your main source for Halloween costumes and decorations. They can easily just keep their popup stores open from September to January and cover all your major holidays that profitable.

[SomeGuy]

Yet another hit (Big Lots) to the shopping center on the NW corner of NW 63rd & May.

They have already lost Akins and Mademoiselle. Not much left except for Petsmart.

I wonder if they might consider fixing that shopping center up like they've done with Mayfair. Chick Fila gets a lot of traffic and I imagine Hobby Lobby opening will bring more traffic nearby.

[Pete]

I wonder if they might consider fixing that shopping center up like they've done with Mayfair. Chick Fila gets a lot of traffic and I imagine Hobby Lobby opening will bring more traffic nearby.

It needs it.

That's a crazy busy intersection with density and good incomes in every direction.

[gjl]

After reading this we made a quick trip to the Big Lots on South Penn. They were pretty busy. The wife likes to get Christmas gift bags there every year so she thought she better stock up since they probably won't be around next Christmas. Almost all their Christmas stuff was 50% off. When we go to the Big Lots on 63rd and May there are usually only 4-5 cars there in front of the store. I've always wondered how that one stayed open. We were at the BL in Yukon last week and it was pretty busy too.

A side note coming back home on 44E the 44 W traffic started backing up around 59th st to the north as far as you could see even where it curves around at 39th st for as far as you could see. And this was at 3:15 pm.

[scottk]

Ollie's is expanding and essentially is going to serve the market that Big Lot's served, and may even take over some of the places where Big Lot's leaves.

With Party City going out, I can see Hobby Lobby upping their game in party supplies, just like they added more bath and linens when Bed Bath and Beyond closed. Hobby Lobby seems to already stock a lot of licensed merchandise (movies, TV Shows, kid characters), so the themed birthday and themed party decor may be an easy thing to go after with existing partnerships.

I also wonder how much of this is generational, as the target buying consumer preferences shift. All the stores that have closed and in the process of closing many locations annually, all seem to be locations that no longer serve a priority need in society. As much as I hate to see Party City close and leave its labelscar on shopping centers, it's the same as other big box stores that no longer can capture a large enough audience to maintain profitability. We went to Party City once a year to buy birthday decor or similar, and spent around $50-100 on a visit, that's not sustainable, when we are spending that same amount (or more) EACH week at a place like Target, Costco, etc.

[unfundedrick]

Yet another hit (Big Lots) to the shopping center on the NW corner of NW 63rd & May.

They have already lost Akins and Mademoiselle. Not much left except for Petsmart.

I think you mean SW corner?