Reported about 10 hours ago
Party City, a popular destination for party supplies and decorations, has announced the closure of nearly 700 stores as it files for Chapter 11 bankruptcy for the second time in two years. The company struggled with heightened competition, inflation, and diminished consumer spending. While it plans to retain over 95% of its 12,000 employees during this process, it faces significant challenges in the current retail environment.
Source: YAHOO