Party City launches liquidation sales as it prepares to close over 600 stores

reviewjournal.com

Party City has begun liquidation sales at over 600 locations after announcing it is going out of business. Discounts of up to 50% are available in-store, with all stores set to close by February 28. The company filed for bankruptcy in January 2023, struggling with $1.7 billion in debt. Despite closing 80 locations and reducing its debt by nearly $1 billion, it could not manage the remaining $800 million. CEO Barry Litwin informed corporate staff on December 20 that they would be laid off immediately, with no severance pay or continued benefits.


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