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.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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