If you have to terminate then you have too. You need to do what is best for your work environment. I have only terminated one child and it is never easy but this termination was a positive one and I still cared for a younger sibling after. Long story.

I have in the past as a manager had to terminate many employees and it never gets easier. I wouldn't have a party as this might send a message to the parents that your happy to see them go, if you know what I mean. I think that in light of the situation it just wouldn't be a positive move on your part.

Good luck!

Trust me you will feel the weight of the world off your shoulders when your operating as you need to be.

Best of Luck!