Party City Set To Go Out Of Business; Fires All Corporate Employees Ahead Of The Holidays!

Noir Nation! It’s the end of an era! Following over thirty-five years in business, Party City is set to close its doors officially.

According to reports from CNN, Party City CEO Barry Litwin held a meeting with corporate employees earlier today to inform them, that they are winding down operations immediately.

Sources state that corporate staff members were also informed today will serve as their last day. Unfortunately, Party City corporate members will not receive severance pay, and their benefits will be terminated as the company goes out of business.

“That is without question the most difficult message that I’ve ever had to deliver,” said Barry.

He adds that Party City’s “very best efforts have not been enough to overcome its financial challenges, he added, resulting in the company’s collapse.

Barry explains that the company struggled to contend with inflation, which ultimately led to the company’s costs growing higher which resulted in less consumer spending.

“It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome,” Litwin said. “Unfortunately, it’s necessary to commence a winddown process immediately.”

Reports confirm that Party City employees have also received letters notifying them the company will be shutting down stores in 2025. The letter clarifies that they will be terminated once stores close on February 28th.

Party City is recognized as one of the largest party supply stores in the United States. Sources state that the company had approximately 6,400 full-time and 10,100 part-time workers as of 2021.