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The party is over for this once-beloved retailer.
After 40 years in business, Party City is closing all its stores, according to a report by CNN.
In a message to employees on Friday, Party City CEO Barry Litwin announced that operations would begin to “wind down,” with many locations starting to close immediately.
Long Island is home to over 10 Party City locations, including stores in Patchogue, Centereach, Islip, Commack, North Babylon, Massapequa, Levittown, Woodbury, Carle Place, New Hyde Park, Merrick and Oceanside.
A staff member at the Centereach location shared that the store plans to remain open for the next few months and is currently offering storewide discounts.
Founded in 1986 and headquartered in New Jersey, Party City built its reputation as a go-to destination for party supplies, offering everything from balloons to holiday decorations.
However, the company has faced mounting financial challenges in recent years, including nearly $1 billion in debt, according to The Sun.
In an effort to reduce costs, Party City, the largest party supply retailer in the U.S., closed 80 stores between 2022 and 2024.
The news comes a day after another retail giant, Big Lots, announced it would be closing all of its 900-plus locations. Read more below.
Top: Photo courtesy of JHVEPhoto/Shutterstock
