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Party City is going out of business: report [Yahoo! Finance]
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Once the largest party supply chain in the U.S., Party City became synonymous with balloons, Halloween costumes, and party essentials. Despite its strong brand, the company struggled to withstand competition from online retailers and seasonal pop-up stores like Spirit Halloween. "This is without question the most difficult message I've ever had to deliver," Litwin said. RELATED: Big Lots closing: See NY, NJ, CT locations Stop & Shop to close underperforming stores in NY, NJ, CT l Full list of locations Bob's Stores going out of business, offering major sale: List of NY, NJ, CT locations The New Jersey-based company appointed Litwin as CEO just four months ago. At the time of his hiring, Litwin wrote on LinkedIn that Party City's "main priority is to strengthen our financial health, and there is work ahead of us." Party City bankruptcy The company declared bankruptcy in January 2023 and exited it a month after Litwin's arrival. However, efforts to recover proved insu
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