Party City names new CEO, president

Party City is tapping a turnaround expert for its leadership team.

In an Aug. 12 press release, the Woodcliff Lake-based specialty retailer announced Barry Litwin as its new chief executive officer and president.

Litwin’s arrival comes nine months after Party City emerged from Chapter 11 bankruptcy with a reduced store footprint, strengthened capital structure and improved liquidity.

Prior to Party City, Litwin served as CEO and board member of Global Industrial Co., a distributor of industrial products. During his seven-year tenure, he guided strategy and execution for all facets of the company across manufacturing, transportation, retail and health care.His resume also includes senior executive roles in retail and distribution at Sears, Office Depot, Avnet and Fannie May Candies.

Litwin was also CEO of Adorama, where he orchestrated a turnaround of an omnichannel retailer of professional cameras, photo-finishing services and consumer electronics.

Bob Hull, chairman of Party City’s board, said he and the team are “extremely confident” that Litwin’s expertise “in fostering business growth and transformation as well as his people-focused leadership style will bring Party City to the next level."

Work ahead

In a LinkedIn post, Litwin wrote, “I am thrilled to share my new role as Chief Executive Officer at Party City. As the leading omni-channel retailer of party goods and supplies, Party City has a long history of bringing joy to people’s lives. For the past twenty years, I have made it a tradition to start my son’s and daughter’s birthdays with a special surprisea beautiful Party City balloon floating above their beds. This tradition highlights the importance of celebrating significant moments in all areas of our lives, whether personal, professional, athletic, academic or community-related.”

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A new way to shop

Party City introduced its new customer-focused floor plan earlier this year to provide “a redefined shopping experience” that simplifies celebration planning. Take a look .

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“At Party City, our brand is focused on making it effortless for people to create unforgettable memories. Our impressive balloon bouquets take center stage in over 700 stores. With our extensive range of products, mobile and web capabilities, delivery services, and dedicated team members, our primary focus will be to provide an exceptional celebration experience for all occasions,” Litwin said.

“Our main priority is to strengthen our financial health, and there is work ahead of us. However, our success is rooted in our people and culture. I am eager to collaborate with the Board of Directors, the leadership team, and all Party City associates to bring more smiles and celebrations to our customers and their loved ones,” he added.

President and Chief Commercial Officer Sean Thompson had led Party City since November 2023. Thompson assumed the position temporarily after former CEO Brad Weston stepped down.

As part of its restructuring agreement, the retailer wiped away nearly $1 billion in debt, renegotiated leasing terms and closed underperforming locations.Founded 38 years ago in East Hanover, Party City is the largest retailer of party goods in the U.S., Canada and Mexico.

When the company filed for bankruptcy relief in January 2023 , it had around 820 stores, owning 770 of them. It now has about 750 company-owned and franchise stores.

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