Party City has filed for Chapter 11 Bankruptcy, Retail Dive reports. The bankruptcy was filed in the U.S., and Canadian stores are safe. Phew!
“Chapter 11 includes a restructuring process, giving a business or individual time to get their financial affairs back in order.” Credit Counselling Society states.
Party City is a chain of stores selling various supplies for parties with 38 locations in Ontario.
The retailer secured provisional court permission to pay suppliers and other vendors considered critical to its operations and a request for authorization to spend $12.7 million to pay key domestic and international vendors, as well as lien holders and other trade creditors was requested to a federal bankruptcy judge.
In total, Party City is expected to pay $74 million to its critical vendors throughout the course of the bankruptcy.
One of the main concerns is to be able to continue without supply chain disruptions, as that would result in losing customers by not being able to fulfill their needs.
A final hearing on Party City’s critical vendor motion is scheduled for Feb. 14. Retail Dive reports.
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Now that October is in full swing, it’s officially time to start planning your Halloween costume if you haven’t already. Whether you’re in the mood to rock something a little on the sexy, silly, or scary side, Toronto has your back when it comes to shopping for festive costumes.
In just a few weeks, Toronto will be overrun with ghosts and ghouls as they take over the city decked out in their finest guises. And in order to really participate in all the fun this year, you’ll need to stock up on goodies from some of the city’s finest Halloween costume and vintage stores.
Here are the best stores to shop for Halloween costumes in Toronto.
Spirit Halloween
Do your Halloween requirements include movie or character-themed costumes, neon wigs, and crazy accessories? No need to exhaust yourself around town — you can tick everything off your list at Spirit Halloween. There’s also an impressive selection of decorations, props, and party supplies if that’s what you’re after.
Where: Multiple locations in the city. Full list here.
Candy’s Costume Shop
This Mount Pleasant shop allows you to rent or shop online and in-store for all your costume needs. Here you’ll find adult and kids’ costumes, makeup, masks, and wigs. The best part? It deals with over 60 costume suppliers, so you’ll definitely find one of the best selections in the city.
Where: 685 Mount Pleasant Road
Malabar Theatrical Costumes
In a city that has retail stores that are constantly closing, Malabar has been consistently supplying Toronto with costumes for decades. While this renowned theatrical costume shop is open year-round, the Halloween offerings are definitely worth checking out. Here you’ll find everything from period pieces to animal, and themed costumes, dance wear, and makeup.
Where: 14 McCaul Street
Value Village
If you’re more of a fan of DIY costumes without having to spend a fortune, you’re going to want to head to your nearest neighbourhood Value Village. This spot is flush with clutch vintage and secondhand digs, so whether you’re in the mood for an old-school look or you want to recreate your favourite superhero or movie character, then you should definitely pop in here. You can also check out the Value Village website for Halloween costume inspo.
Where: Multiple locations throughout the city. Full list here.
Theatrix Costume House
Theatrix Costume House has one of the largest privately-owned collections of theatrical-quality costumes in Canada and the United States. Since opening its doors in 1965, Theatrix is home to thousands of costumes, wigs, and accessories. Don’t see what you’re looking for? The incredible staff can also help you create the perfect Halloween costume from scratch. Also, during the month of October, no appointment is necessary, so you can just drop by and get your creation started.
Where: 61 Elm Grove Avenue
Black Market Vintage Clothing
This Halloween, if you’re going to a blast-from-the-past bash and want to wear legit old-school duds, or you’re simply in the market for some pre-loved pieces, you’ll find everything you need and more at this Queen Street West spot. It’s here that you’ll also find an extensive selection of accessories including hats and sunglasses if you need any last-minute costume additions.
Where: 347 Queen Street West
Party City
While Party City’s offerings may give your wallet a pinch — some real-deal costumes retail for a cool $400 — if you’re keen on high-quality gear, look no further. There’s also an extensive line of in-house makeup, wigs, and masks, plus costumes for kids, adults, and pets, and even Halloween decorations and festive party supplies.
Where: Multiple locations throughout the city. Full list here.
Exile
Exile has been in the business of glad rags for over 30 years. Owner Lynn Harpell opened the original store in 1975 with punk, DIY, and anti-war sensibilities, along with a nod to Rolling Stone’s “Exile on Main Street.” You’ll find a ton of great vintage finds as well as costumes all year long!
Where: 60 Kensington Ave
It’s My Party
Looking for a variety of costumes to choose from? Check out It’s My Party to browse wigs, full costumes, costume accessories, and even Halloween decor.
Where: 2208 Danforth Avenue
Reflections Vintage Antiques and Theatrical Costumes
If you’re in the market for that chic 1920s Great Gatsby vibe, then you have to make a stop here. Reflections Vintage Antiques and Theatrical Costumes have all of the glitz and glam costumes that you’re on the hunt for.
Where: 839 Gerrard Street East
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Canadian Tire has been a staple in households across Canada for decades. But like all long-standing retailers, the company has to make changes in order keep up with the ever-evolving landscape. And they recently made a very interesting acquisition.
Today Canadian Tire Corporation announced that it will be purchasing Party City‘s Canadian business.
The $174.4 million acquisition includes 65 Canadian retail stores across seven provinces. With this move, Canadian Tire is hoping to win over the hearts of families and millennials across the nation and become “Canada’s fun store.”
Instagram/@daria.veduta
For those unfamiliar, Party City is a destination for all things party related, with everything you need for major events like Christmas, Halloween, birthdays, and more, all under one roof.
“Strengthening our marketplace is at the heart of our growth strategy and we are excited to welcome Party City into the Canadian Tire family of companies,” Canadian Tire Corporation’s EVP of Retail, Allan MacDonald said in a press release. Party City will be joining retailers like SportChek, Mark’s, Helly Hansen, and more under the company umbrella.
Flickr/fw_gadget
The iconic Canadian retailer has big plans for Party City.
And it includes bringing Party City’s exclusive and unique roster of merchandise — which includes notable brands like Disney — into Canadian Tire stores through store-in-stores, pop-ups, and “in-line” aisles. Canadian Tire Corporation believes that, with decades of experience and its extensive store network, party store’s sales could double by in just three year’s time.
Not only that, but Canadian Tire Corporation’s beloved Triangle Rewards will be expanding into Party City, giving shoppers more opportunity to earn rewards.
Feature Image: Instagram/@renouv.to
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