Party City files for bankruptcy and plans to shutter nationwide

Party City was once unmatched in its vast selection of affordable celebration goods. But over the years, competition stacked up at Walmart, Target, Spirit Halloween, and especially Amazon.

Party City files for bankruptcy and plans to shutter nationwide
Party City logo and store, on April 3 in Sherwood Park, Strathcona County, Alberta, Canada.

Party City was once unmatched in its vast selection of affordable celebration goods. But over the years, competition stacked up at Walmart, Target, Spirit Halloween, and especially Amazon.

(Image credit: NurPhoto via Getty Images)