Party City Closing All Stores In U.S., Including Eatontown Location

EATONTOWN, NJ — Party City is going out of business, closing all remaining stores in the United States, including the one in Eatontown. This ends Party City's 40-year reign as the go-to party supplier in the country.

An employee at the Eatontown Party City on Rt. 36 confirmed the store will close; she said it will remain open while supplies last and they are expecting to close sometime in February.

"Today was the last day for corporate, but stores will be open until supplies last," she said.

CEO Barry Litwin told corporate employees the company is "winding down" operations and Friday was their last day of employment, according to CNN reporters who viewed a meeting of the company’s corporate employees Friday.

The move was expected. Several news outlets have reported the company was on the verge of collapse and had plans for its second bankruptcy filing in two years.

Party City has 25 New Jersey locations.