Party City announced that it will shutter all stores, a move which ends the nearly 40-year history of the company and comes almost two years after it declared bankruptcy.
Corporate employees of the party supplies retailer learned Friday that they would lose their jobs immediately, according to a report from CNN.
Party City CEO Barry Litwin told the employees during a video conference call that the company was “winding down.”
“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said at the meeting.
“It’s really important for you to know that we’ve done everything possible that we could to try to avoid this outcome,” he added. “Unfortunately, it’s necessary to commence a winddown process immediately.”
Litwin said the “very
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