Party City, once the thriving one-stop-shop for all our celebratory needs, is gone. The company announced the closure of all stores via a meeting Friday morning. CNN reports CEO Barry Litwin told corporate employees the company is “winding down” operations immediately. It means today, Friday, December 20th, will be their last day of employment.
Staff will not receive severance pay.
“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said on the virtual call. “It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome. Unfortunately, it’s necessary to commence a winddown process immediately.”
This is heartbreaking for the employees of the company, especially the week before Christmas.
