Party City is going out of business | Business

Category: Business

Party City is closing all its stores, ending nearly 40 years in business due to financial struggles exacerbated by inflation and competition. CEO Barry Litwin announced the immediate winddown of operations, with employees receiving no severance pay. The company, which recently exited bankruptcy, faced significant debt and rising costs, leading to its collapse amidst a challenging retail environment.

Keywords: Party City, bankruptcy, retail collapse

Source: CNNMoney

Update At: 12/21/2024

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