Party City starts liquidation sales

Party City’s going out of business sales have started at over 600 locations nationwide, including five in the Las Vegas Valley.

After CEO Barry Litwin announced on Dec. 20 that the company was going out of business, the party supplies retailer started sales at 692 locations. Discounts of up to 50 percent off all items will be offered in-store.

All Party City stores are slated to close on Feb. 28.

The retailer has hired the Gordon Brothers to supervise the liquidation sales, the same company as Big Lots.

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.

Litwin told corporate staff on Dec. 20 that they were being laid off that day, they would not receive severance pay and benefits would end as the company goes out of business, CNN reported.

Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.