Businesses Bid To Take Over Party City Locations

The buildings' leases went up for auction last week and several businesses are putting in their bids.

In December, Party City announced it is going out of business and closing all locations.

Now, we’re getting a glimpse at what might become of the hundreds of locations.

The buildings’ leases went up for auction last week and several businesses are putting in their bids.

The most common retailer was Dollar Tree, which entered the winning bid for nearly 150 former Party City locations.

Five Below also put in big bidding for more than 40 leases.

Other brands making a move to take over some of the empty stores include Barnes and Noble, Books-a-Million, Burlington Coat Factory, Rack Room Shoes, La-Z-Boy and Cavender’s.

A hearing to approve the transfer of leases as a result of the auction is set to take place at the end of this month.