Party City To Close

The lights are going out at Party City.

A day after Big Lots said it was launching going-out-of-business sales at its stores nationwide, the party-focused retailer is the next to shut its doors, ending a run of nearly 40 years. CNN reported the company’s closure. 

In a meeting with employees that CNN viewed, Party City CEO Barry Litwin said the party specialty retailer is “winding down” operations and today (Friday, December 20) would be their last day. 

“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said during a video conference call.

Additionally, Party City store employees were told via letter that the company would shut all stores by the end of February. 

During the video conference call, CNN said Litwin told employees that Party City struggled to deal with inflation, which led to higher costs while having a negative impact on consumer spending.

Party City touted itself as North America’s largest party goods retailer and operated more than 700 company-owned and franchise stores across North America and its e-commerce business through partycity.com. Additionally, the company also operated Amscan, a designer, manufacturer, and distributor of celebration products including décor, tableware, costumes, and accessories.