Party City going out of business after 40 years

Published On Dec 20, 2024, 4:46 PM

Party City is permanently shutting down after 40 years of operation. The CEO announced the decision, stating that despite attempts to overcome their challenges, it was necessary to begin winding down operations. The retailer, which posted substantial hardships due to inflation and debt, is expected to close its stores by February, resulting in job losses for its corporate employees. Party City had previously exited bankruptcy and restructured its operations, but the company couldn't recover.