New Jersey-based Party City has recruited Barry Litwin as its new CEO and president. He replaces interim CEO Sean Thompson, who stepped into the role in November 2023 after former boss Brad Weston departed.

Litwin—who previously worked in senior e-commerce postions at Sears and Office Depot—is coming off a seven-year stint as CEO of industrial supplies distributor Global Industrial Company. 

From 2015 to 2019, he was also CEO of New York-based camera retailer Adorama, where he orchestrated a turnaround of the business. This experience should be useful for running a beleaguered business at Party City.

Facing headwinds from the pandemic and shifting consumer patterns, parentco Party City Holdco filed for Chapter 11 bankruptcy in the Southern District of Texas in January 2023. By September, the company received approval for its restructuring plans—which helped eliminate US$1 billion in debt and saw the closure of underperforming stores—and emerged from bankruptcy the following month. Currently, Party City operates more than 750 company-owned and franchise stores around the world.

“Our main priority is to strengthen our financial health, and there is work ahead of us,” Litwin acknowledged in an August 12 LinkedIn post announcing his new role. 

Image courtesy of Harrison Keely/Wikimedia Commons