Party store to close all Las Vegas Valley locations
Party City is going out of business, affecting all stores in the Las Vegas Valley.
CEO Barry Litwin, who was hired just four months ago, announced on Friday Party City will be “winding down” operations effective immediately due to recent financial challenges, according to a CNN report.
Three Las Vegas storefronts confirmed a closing date of Feb. 28. Party City has five locations in the valley.
The New Jersey-based company filed for bankruptcy in January 2023 after struggling to pay off its $1.7 billion debt. While closing 80 locations from end of 2022 to August 2024, the store managed to cancel almost $1 billion in debt by going bankrupt, but struggled to overcome the remaining $800 million.
The newly-minted CEO Litwin told corporate staff on Friday that today would be there last day of work, they would not receive severance pay and benefits would end as the company goes out of business, CNN reported.
The company has over 800 locations across the country, all of which are expected to close. No official liquidation sales have commenced, although some Las Vegas locations have confirmed sales of 1o to 20 percent off have started in stores.
Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.
