Party City goes out of business.
The party’s supply chain, which has multiple locations in Massachusetts, told employees Friday it would be closing.
According to CNN, CEO Barry Litwin told corporate employees at a meeting on Friday that Party City would “wind down” operations immediately and today would be their last day of employment.
Party City previously declared bankruptcy
Party City has been in financial trouble for years, and filed for bankruptcy for the first time in January 2023. The bankruptcy involved restructuring that led to store closures.
The company emerged from bankruptcy in September 2023, but CNN reported that the company was unable to overcome financial challenges.
The company faces competition from online stores like Amazon and seasonal pop-ups like Spirit Halloween, which also expanded into the Christmas market this year.
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Where in Massachusetts is Party City located?
Party City has nearly 20 locations in Massachusetts. they are:
According to its website, Party City has 850 stores nationwide.
