Texas Will No Longer See Party City, As The Parent Company Is Shutting Down

It's a sad day when a business we love closes down. It could be a food place we love to visit, or a clothing shop that always has the perfect item. We'll always remember them though, even if they're gone forever.

For one big retail store named Party City, the celebrations they've helped create over the years have finally come to an end. According to CNN, the company has over 400 stores in nation, with some located in the state of Texas. Sadly, they will all be closed in the beginning of 2025.

Here's what led to the end of the business, and what the future holds for employees.

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Why Is Party City Closing Down?

Per CNN, the announcement was made to all workers on Friday December 20th, 2024 by Barry Litwin, the CEO of the company. It was also revealed it was their final day of working at the company, with no severance pay given, nor the ability to use their benefits following the closure. As said by Litwin:

“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.”

As reported by CNN, employees had become irritated as things became unclear in regards to the company's future around December 10th of this year. Litwin also addressed this on the call saying:

“We recognize the flow of communication has not been how we typically handle sensitive matters like this."

As this is developing story, we will have more information if it becomes available.