Party City to shut down in U.S., but Canadian stores unaffected ...
Business
Party City is reportedly closing all of its stores across the U.S. — but the party supplies chain's Canadian stores will continue to operate.
The Associated Press
· Posted: Dec 20, 2024 3:16 PM EST | Last Updated: 2 hours ago
Party City is reportedly closing all of its stores across the U.S. — but the party supplies chain's Canadian stores will continue to operate.
CNN first reported that Party City would shut down its businesses in the U.S. and that company CEO Barry Litwin informed employees the brand would be "winding down" its operations immediately, with Friday marking their final day of employment.
In Canada, the brand is owned by Canadian Tire, which says its locations aren't going anywhere.
"The operations of Party City in Canada are entirely separate from Party City Holdco in the U.S.," a Canadian Tire spokesperson told CBC News in an email.
"Party City Canada remains open for business online and in store, and will continue to provide Canadians with everything they need to celebrate all their life moments."
Party City's U.S. business first exited bankruptcy just over a year ago. Under its insolvency plan, the company kept most of its 800 stores operating, cancelled nearly $1 billion US in debt, and was delisted from the New York Stock Exchange.
