CEO Barry Litwin said it was "necessary to commence a wind down process immediately" for the party supplies retailer, CNN reported Friday, citing comments from a Party City conference call with its corporate workers. While speaking Friday with Party City staff, Litwin reportedly said Party City’s "very best efforts have not been enough to overcome" the issues it has been facing and that the company has "done everything possible that we could to try to avoid this outcome.
FOX Business reached out to Party City for comment on its reported plans to permanently close.RELATED: Big Lots to start 'going out of business' sale at all remaining locationsThis reportedly comes nearly four decades after the company launched and about 14 months after it exited bankruptcy.
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Party City reportedly going out of business after 40 yearsIn a surprising turn of events, Party City has announced it will be closing all of its stores after 40 years in business.
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Party City is going out of business after nearly 40 years, report saysParty City is closing all of its stores after nearly 40 years of business, according to a new report from CNN.
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Party City is going out of business after nearly 40 years, report saysParty City is closing all of its stores after nearly 40 years of business, according to a new report from CNN.
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Party City is going out of business after nearly 40 years, report saysParty City is closing all of its stores after nearly 40 years of business, according to a new report from CNN.
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Party City is going out of business after nearly 40 years, report saysParty City is closing all of its stores after nearly 40 years of business, according to a new report from CNN.
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Party City is going out of businessThe chain is the largest party supply store in the United States and recently exited bankruptcy in September 2023.
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