'We've done everything possible,' Party City CEO breaks down as he announces shut down
Party City, the nearly 40-year-old party supplies retailer, is closing all its stores by February 28, 2025. CEO Barry Litwin announced the immediate wind-down of operations, leaving thousands of employees jobless. The company, emerging from bankruptcy earlier this year, struggled with substantial debt despite previous restructuring efforts and store closures.
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Party City, the nearly 40-year-old party supplies retailer, is closing all its stores by February 28, 2025. CEO Barry Litwin announced the immediate wind-down of operations, leaving thousands of employees jobless. The company, emerging from bankruptcy earlier this year, struggled with substantial debt despite previous restructuring efforts and store closures. 
