LOUISVILLE, Ky. (WDRB) — The party is over for Party City.
The country's biggest party supply store announced Friday it is shutting down all of its stores after almost 40 years in business.
Corporate employees were told Friday would be their last day of employment.
Party City's CEO pointed to financial challenges as the reason for its collapse. The company filed for bankruptcy in January 2023.
When the company filed for bankruptcy, it canceled almost $1 billion in debt, dissolved the company's stock and kept a majority of its 800 stores open, but ultimately that wasn't enough.
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