Party City is going out of business.
The party supply chain, which has several locations in Massachusetts, told employees on Friday that it was shutting down.
According to CNN, CEO Barry Litwin told corporate employees Friday in a meeting that Party City is “winding down” operations immediately and that today will be their last day of employment.
Party City has been in financial trouble for years, first filing for bankruptcy in January 2023. That bankruptcy came with a restructuring that sparked store closures.
While the company exited bankruptcy in September 2023, CNN reported the company was not able to overcome it’s financial challenges.
The company faces competitions from online stores, such as Amazon, and also seasonal pop-ups, such as Spirit Halloween, which pushed into the Christmas market as well this year.
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Party City has nearly 20 locations in Massachusetts. They are:
Nationwide, Party City has 850 stores, according to their website.
