Party City HAs Announced It Is Immediately Closing All Its Stores

When you need party favors, balloons, Halloween Costumes, or decorations for your kid's birthday, where do you go?

If you're anything like me, you immediately head to Party City.

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Founded in the great state of New Jersey in 1986, Party City has been a staple in the world of party retailers.

A go-to spot for odds and ends for birthdays and celebrations, and now it looks like Party City is coming to a quick and abrupt end.

Party City Announced It Will Be Going Out Of Business Immediately

According to CNN, the news came as a shock when CEO Barry Litwin told employees that today would be their last day of work with the company.

Photo Credit: Google Maps

Granted, Party City like many retailers right now has had to deal with rising costs which contributed to the store's decline.

Party City will be closing many stores today (December 20th) while other stores may stick around until February 2025, and then those stores will also shutter.

This is mainly sad for employees, they were told that once their store closes their benefits would be gone and there would be no severance pay.

Party City Made A Comeback After Bankruptcy

Back in January of 2023 Party City filed for Chapter 11 Bankruptcy and made an attempt to right the ship.

A few months ago the company hired CEO Barry Litwin who led the company out of bankruptcy but also had to close nearly 80 Party City locations according to CNN.

What's Next For Party City?

This leaves a pretty big gap in the party industry.

Sure, it's not often you'd have to go to a Party City, but when you needed some random party favor, decoration, or costume, Party City usually had what you needed.

This leaves us with even fewer options moving forward on where we as consumers can buy things.

Party City isn't the only place we lost this year, here's a peak inside Gillian's Wonderland Pier in Ocean City, NJ after it closed down this year.