Party City will be closing down all its stores: report

Party City is going out of business and will be closing down its stores, according to reports.

CEO Barry Litwin told employees Friday that the franchise was going out of business and that severance pay would not be given to staffers.

“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said during the meeting which was viewed by CNN.

The store is known of the its affordabe party supplies like balloons, party hats and paper plates.

Party City filed for bankruptcy in January of 2023 and struggled to pay off its debt of $1.7 billion.

About 80 different stores were closed around the country between the years 2022 and 2024.

During the meeting, Litwin also apologized for the lack of communication regarding the company's problems.

“We recognize the flow of communication has not been how we typically handle sensitive matters like this,” he said.