According to a report from CNN, Party City will close all of its stores across the United States, which have been open for about 40 years.
outlet reported Party City CEO Barry Litwin told “employees” in a video conference that the party supplies business “has done everything possible” to avoid closure. We need to start the downsizing process immediately,” he added.
According to the report, in a video call “seen by CNN,” Litwin explained that Friday would be the employee's last day of work and that he would reportedly “not receive severance pay.” That's what it means.
“It is very important that you know that we have done everything possible to avoid this outcome,” Litwin was quoted as saying. “Unfortunately, we must begin the downsizing process immediately.”
In addition to Litwin's revelations, some employees reportedly “received a letter” stating that the store would close on February 28, 2025. The newspaper said the employees were thanked for their “valuable contributions and service to the company.”
Also Friday, some Party City store employees received a letter stating that the company will be closing its stores on Feb. 28, at which time store staff will be laid off.
“While Party City believes this closure is in the best interest of the company, we regret having to take this action and thank you for your valuable contributions and service to the company.” says the letter.
CNN noticed Party City declared bankruptcy in January 2023, but emerged from bankruptcy in September 2023.
