IParty Corp., a Dedham-based chain of 54 party goods stores, said it has hired an investment bank to explore “strategic alternatives” after Hurricane Sandy hurt its all-important Halloween retail season.

Strategic alternatives that will be considered include “raising additional financing to enhance the company’s ability to grow, a potential restructuring of its capital structure, or a potential sale of the company,” iParty said in a press release. No definitive timetable for completion of the strategic review process has been established, iParty added.