A LEGACY party business has announced it is closing after almost eight decades in business.
Litin’s Party Value, a staple in Minneapolis, Minnesota, announced that this will be its last opening of the summer before closing for good.
two
two
“It is with great sadness that we announce the closure of our party and catering supply warehouse, which has been an iconic fixture in Minneapolis,” the store wrote on its website. website.
On Tuesday, June 11, the store started its big sale, which saw up to 50% off products.
Everything sold is final sale and most products can be taken into the store.
Read more about Store Closing
Those specifically looking for balloons have the option of placing an order online and picking it up in store.
Although a closing date has not yet been set, owner Ned Litin believes they will be able to close the store by the end of July.
The owner admitted he thought about selling his business, but his broker told him he would only receive an offer for his inventory.
Instead, he decided to keep the store running for a while longer.
“This way, I can continue paying my rent, keeping my employees employed and serving my customers,” Litin said. Star Tribune.
Litin wanted to stay open another summer, serving the Minneapolis community during its big holiday season.
“I was looking to the future and said, ‘If I can make it through one more graduation season, once we get past this point, we’ll start the store closing sale,’” he said.
‘DOUBLE BLOW’
When talking about the closure of his company, he revealed that the Covid-19 pandemic caused a huge problem for the company.
“We have suffered a double blow from the pandemic,” Litin said in a press release.
“Not only has this altered plans for parties and social gatherings, but it has also massively changed the way consumers shop.”
The story of Litin’s party valor
The store has existed for almost eight decades and has a rich history.
Litin’s father, Don Litin, founded Litin Paper Company in 1947 as a wholesaler of paper products for shipping and packaging, cleaning, food service and office products companies.
In 1966, the family decided to take everything to the next step and open the store to the public.
Ned Litin began working at the party store in 1977, which would eventually lead to him taking over the family business.
Although it had commercial customers, sales at Litin’s Party Value were the company’s main source of revenue until the pandemic.
“It has become a real challenge for us to stay relevant in an ever-changing market, trying to not only survive, but also thrive, alongside the corporate retail giants.”
Litin told the Tribune the store received a boost in business in 2021 when people started gathering again, but the excitement didn’t last.
As the year went on, people started ordering their supplies through other online retailers and competition for wholesale contracts started to get fiercer.
“It totally killed the business,” he told the publication.
He said customers were heartbroken by the news.
“What endeared us to our customers is not only that we have fun and offer great products, but we also strive to take good care of our customers,” Litin said.
“That extra element really allowed me to survive through several business evolutions that added more and more competition to our fight for survival.”
However, now that the store is closing, Litin plans to retire at age 69 and focus on rehabilitating a skiing injury he suffered in 2023.
This story originally appeared on The-sun.com read the full story
