• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Party City to close all of its stores, report says

by December 21, 2024
written by December 21, 2024

Party City on Friday announced it will close all of its stores and has initiated corporate layoffs effective immediately, according to a CNN report.

CEO Barry Litwin told corporate employees in a meeting viewed by CNN that Party City has to “commence a winddown process immediately,” and that Friday would be their last day of work for the company.

“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said at the meeting, according to the report.

CNN reported the company’s closure was due to ongoing financial challenges at the party supply retailer, which less than two years ago filed for bankruptcy protection over its inability to pay off $1.7 billion in debt.

The New Jersey-based chain exited bankruptcy in September 2023 through a plan that included transitioning into a privately held company and canceling nearly $1 billion in debt. A majority of its 800 U.S. stores were able to stay open as it emerged from bankruptcy.

Litwin was named CEO in August and said at the time he saw “many opportunities to strengthen our financial performance and build a leading end-to-end celebration experience for consumers,” according to a press release. 

Prior to his appointment, he was the CEO of Global Industrial Company, a distribution leader in industrial products.

Competition in the party goods and costume space has grown in recent years, including Spirit Halloween’s continued rise within and outside of the spooky season. The holiday costume chain announced in October that it would open 10 new “Spirit Christmas” stores, with some of the stores being converted from existing Spirit Halloween locations.

Online retailers have also added pressure to Party City’s operation, even as the company began to offer items on Amazon in 2018.

Representatives for Party City did not immediately respond to CNBC’s request for comment on CNN’s report or potential story closures. Read the full CNN report here.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
House passes funding bill with just hours until government shutdown
next post
CFPB sues America’s largest banks for ‘allowing fraud to fester’ on Zelle

related articles

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 17, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • American Airlines flight carrying US lawmakers ‘bumped’ by second plane on tarmac in DC

    April 10, 2025
  • Titan X Crypto: Latest Updates & How to Buy TITAN X

    September 3, 2024
  • GOP rising star exposes how Biden admin was targeting him through controversial surveillance program

    October 3, 2025
  • Ripple and Tron: Ripple continues to sink under pressure

    October 3, 2024
  • Trump shoots down rumors he will seek 3rd term: ‘Not something I’m looking to do’

    May 4, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,503)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Trump admin breaking modern presidential staffing records, hiring ‘thousands of America First warriors’

    March 31, 2025
  • Germany to remove Huawei and ZTE from 5G networks by 2029 over security concerns

    July 11, 2024
  • Ripple and Tron: New support levels on Thursday

    October 10, 2024

Recent Posts

  • Thomas Massie says he feels ‘misled’ by Trump after Iran strikes: ‘He’s engaged in war’

    June 22, 2025
  • Biden ripped for ‘slap in the face’ to crime victims after awarding Soros Medal of Freedom: ‘Disgusting’

    January 7, 2025
  • Patel cuts ties Comey’s FBI made with ADL as organization faces backlash for TPUSA criticism

    October 1, 2025

Editor’s Pick

  • Elections are temporary. Family is forever. Here’s how to keep politics from driving you apart

    September 22, 2024
  • Hegseth abruptly pulls Pentagon officials from ‘globalist’ Aspen conference

    July 15, 2025
  • Trump admin sanctions Brazilian judge overseeing Bolsonaro coup-plot probe

    July 30, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock