Party City closing after 40 years in business

Party City is permanently shutting down.CEO Barry Litwin said it was "necessary to commence a wind down process immediately" for the party supplies retailer, CNN reported Friday, citing comments from a Party City conference call with its corporate workers.

This reportedly comes nearly four decades after the company launched and about 14 months after it exited bankruptcy.When Party City completed its Chapter 11 bankruptcy process last year, it said it had "substantially strengthened its capital structure by eliminating nearly $1 billion in debt, enhanced its liquidity, and optimized its Party City store portfolio by having negotiated improved lease terms and exited less productive stores.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Party is over for 'Party City' which is reportedly going out of businessThe party is over at Party City, according to CNN, which reported on Friday that the party supplies retailer plans to shutter its more than 700 stores nationwide at the end of February. More than a dozen of the company's stores are located in the Bay Area.
Herkunft: KTVU - 🏆 465. / 53 Weiterlesen »

Peak Design CEO denies rumors backpack company helped ID suspect in UnitedHealthcare CEO shootingThe CEO of a company that makes high-end backpacks said he and his employees have received threats after reports he contacted a police tip line when he spotted one of the company's bags in the surveillance video of the shooting of UnitedHealthcare CEO Brian Thompson.
Herkunft: ABC7Chicago - 🏆 284. / 63 Weiterlesen »