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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…
Why New Jersey Is Suing TikTok
New Jersey has joined a group of states suing social media giant TikTok, alleging the video-sharing app is highly-addictive and harmful to children.
The complaint, filed temporarily under seal in the Superior Court of New Jersey, Chancery Division, Essex County, alleges multiple violations of the New Jersey Consumer Fraud Act (CFA), New Jersey Attorney General Matthew Platkin said.
Other AGs are filling similar lawsuits across the country Tuesday, Oct. 9, including those in Kentucky, Louisiana, Massachusetts, Mississippi, North Carolina, Oregon, South Carolina, Vermont and Washington.…