KY employees of 2 major retailers lose jobs as companies shut down around holidays
Big Lots and Party City stores in Lexington are holding going-out-of-business sales after last week’s news that both retailers will begin winding down their operations.
Party City CEO Barry Litwin broke the news to corporate office employees Friday, telling them it would be their last day, CNN reported. Staff were told they would not get severance pay and their benefits would end as the company went out of business, with stores set to go dark by late February, per CNN.
It followed similar news from home discount retailer Big Lots, which Thursday announced plans to go out of business and close its remaining stores.
Between Party City and Big Lots and their recent going-out-of-business announcements, about 40,000 jobs are expected to be lost nationwide.
Big Lots is reported to have about 27,000 employees, with an additional 555 corporate office employees, according to media reports. Party City has about 700 stores staffed by roughly 12,000 employees, NPR reported.
In Kentucky, Party City has seven stores between Louisville, Lexington, Bowling Green and Florence, according to its online store locator. There are at least 35 Big Lots locations across Kentucky, per the retailer’s store locator.
In Lexington, Party City has two locations, while Big Lots has one. Here’s what we know about the impact for employees at the retailers’ locations in Lexington.
Party City to shutter two Lexington stores with all others
Between its two Lexington locations, one near Nicholasville Road and the other in Hamburg, about 20 Party City employees are expected to eventually lose their jobs.
An employee at the 127 West Tiverton Way store said team members had only just learned of the news a few days ago.
Signs posted on the store’s windows advertised discounts of up to 50% off everything in-store. Discounts inside ranged from 10% off toys to greater savings on a variety of celebratory offerings.
The store will be open Christmas Eve from 9 a.m. to 6 p.m, closed Christmas Day, open 8 a.m. to 7 p.m. New Year’s Eve and 11 a.m. to 5 p.m. New Year’s Day, according to a posted sign on the Nicholasville Road-area store.
“We’re open 24/7 online: Partycity.com,” the sign reads.
All Big Lots stores to close, including Lexington location
Between 15 to 20 local Big Lots employees will be affected by the retailer’s plans to go out of business, a Lexington Big Lots employee told the Herald-Leader Monday.
The employee did not know what date the store would officially close, but said its going-out-of-business sale is expected to play out over the next month or so.
Window signs on the store located at 820 Lane Allen Road flashed a 25% off storewide discount, along with other deals.
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