CEO Barry Litwin told employees that operations would be "winding down" immediately, according to a CNN report

Party City, known for its party supplies and seasonal Halloween City popup stores, has filed for bankruptcy and is going out of business.

Why is Party City closing? After initially filing in January 2023, the company exited bankruptcy a month after new CEO Barry Litwin's arrival, now about four months ago, CNN repor

Party City, which operates more than a dozen locations in Greater Philadelphia and over 850 outposts across the country, is closing all of its stores. Friday was the last day of work for corporate employees, the retail chain's CEO, Barry Litwin, told them in a videoconference call watched by a CNN reporter, which first reported the news.

INDIANAPOLIS (WISH) — Party City is closing all of its stores nationwide after 40 years in business. This includes all locations in Indiana. According to CNN, CEO Barry Litwin told corporate employees Friday in a meeting viewed by CNN that Party City is “winding down” operations immediately and that today will be their last day of employment.

Party City is officially shutting down operations, with corporate staff employment ending immediately and store closures planned for early next year, according to an announcement from CEO Barry Litwin.

The announcement was made to corporate employees Friday, who were told it was also their last day of work, according to CNN.

Party City filed for bankruptcy Saturday for the second time in less than two years. The filing comes after the retailer told employees Friday it would begin “winding down” operations. The nation’s largest party supply chain said in a statement that filing for Chapter 11 bankruptcy would “maximize value” for its stakeholders and

Party City Holdco Inc. (NYSE: PRTY) declared bankruptcy in January 2023, at the time saying it had plans to complete its restructuring in the second quarter of 2023. In the main P