Party City Goes Out of Business, Shut Down All Remaining Stores

Posted December 23, 2024

Party City is closing down all of its stores, ending nearly 40 years in business, according to CNN.

During a corporate meeting held Friday, Party City CEO Barry Litwin told corporate employees that Party City would be “winding down” operations for its stores, CNN reported. Additionally, staff was told they would not receive severance pay and their benefits would end as the company went out of business.

Four months following the hire of Litwin as the company’s CEO, Party City declared bankruptcy in January 2023. From the end of 2022 to August 2024, Party City shuttered 80 locations nationwide, according to its most recent financial documents. 

Party City has four remaining locations in the Kansas City area:

• 19850 E. Jackson Drive in Independence

• 940 NE Sam Walton Lane in Lee’s Summit

• 8400 W. 135th St. in Overland Park

• 8373 N Booth Ave. in the Shoal Creek area of Kansas City

The company had approximately 6,400 full-time and 10,100 part-time workers as of 2021, CNN reported. Party City will begin to wind down its retail and wholesale operations and begin going out of business sales at its approximate 700 stores nationwide, according to a Saturday release from Party City Holdco Inc.