Nation's largest party supply store is closing all its stores, report says

WASHINGTON — Party City is going out of business and closing all of its stores, according to a report.

The company’s CEO broke the news to corporate employees Friday that Party City was “winding down” operations and it was their last day of employment, CNN reported. The announcement came on a video conference call, which CNN said it had viewed.

Party City, which is the country’s largest party supply store, has more than 850 locations across 45 states and Puerto Rico.

Party City didn’t immediately respond to a request for comment. It’s yet to acknowledge the report on its website or social media accounts.

It’s unclear whether stores would be closing immediately or if there would be going-out-of-business sales. CNN reported that store managers have been told all locations would be shut Feb. 1, 2025.

Earlier this week, Bloomberg reported Party City was planning to file for bankruptcy again, a little more than a year after exiting Chapter 11 protection in October 2023.

The news of Party City shutting down comes just one day after Big Lots revealed it would be closing all of its stores. The discount retailer said a sale to a private equity firm fell through, but they still hoped to either revive the deal or find another buyer by early January.

It’s unclear when the nearly 1,000 remaining Big Lots stores are set to close, or if a completed sale could prevent them from closing.