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Party City Closes All US Stores After Nearly 40 Years

  • Party City is closing all of its stores, ending nearly 40 years in business, as reported by CNN.
  • CEO Barry Litwin stated that Party City is 'winding down' operations immediately, making today the last day of employment for employees.
  • The company faced financial challenges, stating that its 'very best efforts have not been enough to overcome' these issues.
  • Party City struggled with a $1.7 billion debt load and managed to cancel nearly $1 billion in debt by going bankrupt.
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