Party City Abruptly Goes Out of Business Closing ALL NJ & PA Stores Immediately

The party is over at the nation's largest party supply store. And it's over fast.

Party City is closing down all of their stores, after nearly 40 years in business. The news was first reported by CNN.com.

They say that they're "winding down" operations immediately. And the company's CEO Barry Litwin actually said today (December 20th) is the final day of operations for the company.

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This means that with just five days left until the Christmas holiday, all of the company's stores will be closing for good right away. And all of those employees will be losing their jobs as well.

Party City Has Struggled In Recent Years

Party City — which is headquartered in Woodcliff Lake, NJ  – has experienced financial woes in recent years.

The company initially declared bankruptcy in January 2023. It actually exited that bankruptcy in September. At that time, the company said they planned to keep most stores open.

The company operates more than 800 stores nationwide – with 25 stores in New Jersey and 27 stores in Pennsylvania. All of those locations are expected to close their doors forever... as early as today.

“That is without question the most difficult message that I’ve ever had to deliver,” the company's CEO Barry Litwin told corporate employees on a video conference call earlier in the day on Friday, CNN reports.

He says the company's efforts haven't been enough to overcome their financial challenges.

“It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome,” Litwin said. “Unfortunately, it’s necessary to commence a wind down process immediately.”

It's been affected by rising costs including helium shortage -- which hurt the company's balloon business during the pandemic, CNN says.