iParty buys 2 RI stores

Dedham-based iParty Corp. said today it has entered into an agreement to buy two Rhode Island stores currently operated as Party City franchise stores.

An operator of 50 party goods stores, iParty said the purchase price will be $1.35 million, plus up to $400,000 for associated inventory.

Both locations will be converted into iParty stores following the closing of the sale, said iParty, which added it will close its North Providence store when its lease expires in January.
(By Chris Reidy, Globe staff)