{"id":2382626,"date":"2024-12-21T14:56:00","date_gmt":"2024-12-21T19:56:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/party-city-to-begin-shutting-down-all-locations-immediately-ceo-says\/"},"modified":"2024-12-21T14:57:26","modified_gmt":"2024-12-21T19:57:26","slug":"party-city-to-begin-shutting-down-all-locations-immediately-ceo-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/party-city-to-begin-shutting-down-all-locations-immediately-ceo-says\/","title":{"rendered":"Party City to Begin Shutting Down All Locations Immediately, CEO Says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fparty-city-to-begin-shutting-down-all-locations-immediately-ceo-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2382626&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Party City has\u2063 announced the closure \u2062of\u2062 all\u200b its stores, marking\u2062 the end of its nearly\u200d 40-year history, following its bankruptcy declaration\u2062 nearly\u2062 two years ago. in a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bombshell-top-ny-official-admits-cuomo-hid-nursing-home-data-so-feds-wouldnt-find-out\/\" title=\"BOMBSHELL: Top NY Official Admits Cuomo Hid Nursing Home Data So Feds Wouldn\u2019t Find Out\">video conference call<\/a>, CEO Barry Litwin informed corporate\u200b employees of their immediate job loss, expressing\u200c that this was one of the \u200bhardest messages he had to \u200dconvey. He emphasized \u2062that despite their best efforts, the company&#8217;s financial struggles, exacerbated by inflation\u200d and rising costs, made the winddown necesary. Employees have reported \u2063insufficient communication from leadership, and many\u200d will not receive severance pay. store employees\u2062 have received notices that\u2064 their locations will close by the end of February. The company, which filed for\u200c bankruptcy \u200din January 2023 due to substantial \u2062debt, had \u2064managed to keep most of \u2062its\u200d stores\u200c open while reducing part of its debt. As of 2021, \u200bParty City employed around 16,500 workers, raising\u2064 concerns over job losses\u200b and the lack of transparency in recent weeks.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p>Party City announced that it will shutter all stores, a move which ends the nearly 40-year history of the company and comes almost two years after it <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">declared bankruptcy<\/a>.<\/p>\n<p>Corporate employees of the party supplies retailer learned Friday that they would lose their jobs immediately, according to a report from <a href=\"https:\/\/www.cnn.com\/2024\/12\/20\/business\/party-city-shut-down?Date=20241220&amp;Profile=cnnbrk&amp;utm_content=1734716189&amp;utm_medium=social&amp;utm_source=twitter\" target=\"_blank\" rel=\"noopener\">CNN<\/a>.<\/p>\n<p>Party City CEO Barry Litwin told the employees during a video conference call that the company was &ldquo;winding down.&rdquo;<\/p>\n<p>&ldquo;That is without question the most difficult message that I&rsquo;ve ever had to deliver,&rdquo; Litwin said at the meeting.<\/p>\n<p>&ldquo;It&rsquo;s really important for you to know that we&rsquo;ve done everything possible that we could to try to avoid this outcome,&rdquo; he added. &ldquo;Unfortunately, it&rsquo;s necessary to commence a winddown process immediately.&rdquo;<\/p>\n<p> <script type=\"text\/javascript\"> \t\t\tif ( getCookie( \"ff_subbed\" ) ) { \t\t\t\tdocument.getElementById(\"stnvideo\").remove() \t\t\t} \t\t<\/script> <\/p>\n<p>Litwin said the &ldquo;very best efforts&rdquo; of the company were ultimately not &ldquo;enough to overcome&rdquo; its financial issues.<\/p>\n<p>He mentioned <a href=\"https:\/\/www.westernjournal.com\/biden-killing-economy-inflation-remains-high-consumer-spending-weakens\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a> as a factor which <a href=\"https:\/\/amzn.to\/3YuVZYV\">impacted consumer spending<\/a> and increased costs for the business.<\/p>\n<p>Corporate staffers will not <a href=\"https:\/\/www.westernjournal.com\/countless-workers-face-layoffs-reduced-hours-californias-outrageous-new-minimum-wage-law-kicks\/\" target=\"_blank\" rel=\"noopener\">receive<\/a> severance pay and their benefits will immediately end, per CNN.<\/p>\n<p>Some employees at Party City stores meanwhile received letters saying their stores would be closed at the end of February. They will lose their jobs at that point.<\/p>\n<p>&ldquo;Although Party City believes these closings are in the best interest of the company, we regret that we have had to take this step and thank you for your valued contributions and service to the company,&rdquo; the document said.<\/p>\n<p>Party City <a href=\"https:\/\/www.westernjournal.com\/large-us-retailer-files-chapter-11-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">declared bankruptcy<\/a> in January 2023 after battling to pay down $1.7 billion in debt.<\/p>\n<p>They were able to keep most of their 800 stores operating through that process, as well as cancel almost $1 billion of the debt load.<\/p>\n<p>Many employees complained about minimal transparency from Party City leadership in recent weeks, a reality for which Litwin apologized.<\/p>\n<p>&ldquo;We recognize the flow of communication has not been how we typically handle sensitive matters like this,&rdquo; Litwin said during the call.<\/p>\n<p>A former corporate employee who spoke to CNN said the product development team at Party City was called back from an annual outing with vendors because the company stopped paying its suppliers.<\/p>\n<p>Every corporate staff member <a href=\"https:\/\/www.westernjournal.com\/national-retailer-going-business-stores-across-country-set-close\/\" target=\"_blank\" rel=\"noopener\">lost<\/a> access to the office on Dec. 10, with security personnel locking the doors.<\/p>\n<p>Staff were told one day later via  that they had to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/prince-andrew-suggests-epstein-accuser-giuffre-suffers-from-false-memories-of-alleged-rape\/\" title=\"Prince Andrew Suggests Epstein Accuser Giuffre Suffers From &#039;False Memories&#039; of Alleged Rape\">request access<\/a> to the building a day beforehand if they wanted to enter.<\/p>\n<p>They were told to &ldquo;not allow anyone to tailgate when entering the building,&rdquo; meaning they should not let anyone follow closely while they use a company badge to open the door.<\/p>\n<p>Party City had 6,400 full-time and 10,100 part-time workers as of 2021, according to CNN.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\"> \t\t\t \t<\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> \t\t\t\t\t\t<label>* Name<\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"name\" required> \t\t\t\t\t<\/div>\n<div class=\"sc--field\"> \t\t\t\t\t\t<label>* <\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"\" required> \t\t\t\t\t<\/div>\n<p> \t\t\t\t\t<label>* Message<\/label> \t\t\t\t\t<br \/> \t\t\t\t\t<textarea name=\"message\" required><\/textarea> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> \t\t\t\t\t<input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\"> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t<script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! ( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script> \t     \t\t\t\t\t\t     \t\t\t\t\t<\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<p><script>console.log(\"ad slot (BA1)\")<\/script> \t\t<\/p>\n<div class=\"ff-fancy-header-container\"> \t\t\t \t<\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\"> \t\t\t\t \t\t\t\t \t\t\t\t<script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> \t\t\t<\/div>\n<div class=\"insticator-ads additional\"> \t\t\t\t \t\t\t\t \t\t\t\t<script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> \t\t\t<\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Party City has announced the closure of all its stores, marking the end of its nearly 40-year existence and occurring almost two years after filing for bankruptcy. Corporate employees were informed on Friday that they would be laid off immediately, as reported by CNN. During a video call, CEO Barry Litwin conveyed to staff that the company was &#8220;winding down,&#8221; stating it was one of the hardest messages he had to deliver. He emphasized that they had exhausted all options to prevent this outcome but deemed an immediate wind-down necessary.<\/p>\n<p>Litwin acknowledged that despite their best efforts, financial challenges proved insurmountable, citing inflation&#8217;s impact on consumer spending and rising operational costs. Corporate employees will not receive severance pay and their benefits will cease immediately. Some store employees received notifications indicating their locations would close by the end of February, resulting in job losses at that time.<\/p>\n<p>The closure notice expressed regret over having to take such steps while thanking employees for their contributions. Party City filed for bankruptcy in January 2023 due to $1.7 billion in debt but managed to keep most of its 800 stores open during this process and reduced nearly $1 billion from its debt load.<\/p>\n<p>Recently, many staff members voiced concerns about a lack of transparency from leadership; Litwin acknowledged this communication gap during the call. A former corporate employee revealed that product development teams were recalled from vendor outings because payments to suppliers had ceased. On December 10, access restrictions were placed on corporate staff; they were required to request entry a day in advance thereafter and instructed not to allow others into the building without proper authorization.<\/p>\n<p>As of 2021, Party City employed approximately 6,400 full-time workers and around 10,100 part-time workers according to CNN reports<\/p>\n","protected":false},"author":1,"featured_media":2382627,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/12\/Picture-64.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[47227,36783,47226,42998,5123],"class_list":["post-2382626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-business-closure","tag-ceo-announcement","tag-party-city","tag-retail-news","tag-shutdown"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/12\/Picture-64.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2382626"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382626\/revisions"}],"predecessor-version":[{"id":2382630,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382626\/revisions\/2382630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2382627"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2382626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2382626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2382626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}