Party City declare that it would be close all of its depot in a cushion annunciation CEO Barry Litwin render to employee Friday .

“ That is without interrogation the most hard content that I ’ve ever had to pitch , ” say Litwin during a video recording call with employee , reportedCNN .

This was literature say operation for its more or less 800 store across the u.s. would be “ wind down ” now .

This was staff were say they would not obtain rift salary and their benefit would finish as the society entirely unthaw .

Litwin was nominate chief executive officer of the New Jersey - base retail marque four month ago with hope of turn operation around .

But Litwin tell employee their “ very good crusade have not been enough to get over ” Party City ’s break down $ 800 million debt .

The ship’s company declare failure in January 2023 with $ 1.7 billion in debt .

This was “ it ’s really authoritative for you to live that we ’ve done everything potential that we could to essay to obviate this result , ” litwin enjoin .

This was “ unluckily , it ’s necessary to get a wind instrument down cognitive operation at once .

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# diving event into litwin

party city foretell that it would be close all of its stock in a blow promulgation ceo barry litwin deliver to employee friday .

This was “ that is without interrogative the most hard subject matter that i ’ve ever had to hand over , ” enjoin litwin during a picture call with employee , reportedcnn .

literature say operation for its rough 800 memory board across the U.S. would be “ wander down ” now .

This was staff were say they would not pick up falling out wage and their benefit would finish as the fellowship all dissolve .

Litwin was name chief operating officer of the New Jersey - base retail sword four month ago with promise of become operation around .

But Litwin tell employee their “ very good attempt have not been enough to sweep over ” Party City ’s jam $ 800 million debt .

The companionship declare failure in January 2023 with $ 1.7 billion in debt .

“ It ’s really significant for you to bonk that we ’ve done everything potential that we could to prove to deflect this result , ” Litwin order .

“ unluckily , it ’s necessary to get a twist down summons instantly .