Is Party City closing? Which stores are going out of business?

The party’s about to end! Party City has long been the go-to decoration shop for birthdays, weddings, bachelorette parties, graduations, holidays and other events. It was also famous for its Halloween costumes. according to cnnceo barry litwinwhose company originally opened in 1986, said during a corporate meeting: ““There is no doubt that this is the most difficult message I have ever had to deliver.” He added, “It’s really important for you to know that we have made every effort to avoid this outcome.”

Barry’s comments addressed the company’s current challenges. Read below to know whether Party City will close its doors, its revenue, and much more.

Is Party City going out of business?

Yep, Party City is going out of business. according to cnnLitvin declared: ““Unfortunately, it is necessary to begin the closing process immediately.”

Four months before the time of publication, Barry addressed his LinkedIn community about his role as CEO and the direction of the company. He highlighted the efforts of Party City to create memorable celebrations, “At Party City, our brand is focused on making it easier for people to create unforgettable memories. Our impressive balloon bouquets take center stage in over 700 stores. With our wide range of products, mobile and web capabilities, delivery services and dedicated team members, our primary focus will be to deliver an exceptional celebration experience for all occasions.

The CEO further said, “Our main priority is to strengthen our financial health, and we have work ahead of us. However, our success lies in our people and culture. I look forward to collaborating with the Board of Directors, leadership team and all Party City associates to bring more smiles and celebrations to our customers and their loved ones.”

How many Party City stores are closing?

Per cnnAll Party City stores will remain closed.

What was the revenue of Party City?

according to market cap of companiesParty City is expected to generate revenue of $2.16 billion in 2022, down slightly from $2.17 billion in 2021.