Party Over for Party City

December 20, 2024 – Location across the US will be closing soon, more than a year after Party City exited bankruptcy.

Party City Holdings, Inc., had previously filed for bankruptcy in early January 2023, but emerged from Chapter 11 in September of that year. Plans to reorganize were approved by the U.S. Bankruptcy Court for the Southern District of Texas.

CEO Barry Litwin told corporate employee that today was their last day of employment with the company. It was not clear when Party City locations would be shuttering. It is being reported that they will not receive severance pay and their benefits will end when the company goes out of business.