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Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Retail store closures surged in 2024, reaching their highest levels since the start of the pandemic, a new study said. A total of 7,325 U.S. stores closed in 2024, driven by inflation and an increasing shift toward online shopping, according to retail data firm Coresight Research. The closings marked the steepest decline in brick-and-mortar retail since nearly 10,000 stores closed in 2020. While 5,970 stores opened—the highest yearly number since 2012—closures outpaced openings by a net loss of 1,355 stores.  "Retailers that were unable to adapt supply chains and implement t…

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by Chris Spiker
Business
Party City Going Out Of Business, Closing All 800 Stores Party City Going Out Of Business, Closing All 800 Stores
Party City Going Out Of Business, Closing All 800 Stores The party is over for a popular chain store that's been in business for decades. Party City is “winding down” operations immediately at its approximately 800 locations, CEO Barry Litwin told corporate employees  in a video call on Friday, Dec. 20, CNN reports. Workers were told they will not receive severance pay, and that their benefits would end as the company goes out of business, CNN says. The company, headquartered in in Woodcliff Lake, New Jersey, is running low on cash and unable to pay rent in some locations, according to an earlier Bloomberg report. Party City was foun…

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by Joe Lombardi
Business
Party City To Close 45 Stores Amid Helium Shortage Party City To Close 45 Stores Amid Helium Shortage
Party City To Close 45 Stores Amid Helium Shortage The party is over for dozens of Party City locations, with the company announcing plans to shutter 45 stores amid a global helium shortage. The company is based in Westchester County in Elmsford with its headquarters in Rockaway, New Jersey. In a statement, Party City CEO James Harrison said that closing stores is normal each year, but this year, it has chosen to close more locations than normal in 2019. The supplies company did not release a list of affected stores, but said they will take place throughout the year. “Each year, Party City typically closes 10 to 15 stores as a part of our…

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by Zak Failla