The largest party supply store in the country is shutting down all of its stores after nearly 40 years in business.
The company’s CEO said Party City will be winding down operations immediately, pointing to the company’s financial challenges as the reason for the collapse.The plan canceled nearly one billion dollars in debt, dissolved the company’s stock and kept a majority of its 800 stores, but that wasn’t enough.Party City joins a growing list of struggling retails as customers cut back on discretionary spending.
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