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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…
Rite Aid Is Selling These Pennsylvania Leases After Filing For Bankruptcy
Of the 39 Rite Aid stores closing in Pennsylvania amid filing for bankruptcy, nearly two dozen of the leases are being sold.
A&G Real Estate Partners is acting as the real estate advisor for the pharmacy chain, which filed for bankruptcy on Oct. 15, and has plans to close 154 underperforming stores nationwide.
The deadline for the following leases for in Pennsylvania is Monday, Nov. 20:
2722 West 9th St., Chester
5900 University Boulevard, Corapolis
1709 Liberty Ave., Erie
353 East 6th St., Erie
6090 Route 30, Greensburg
301 Eisenhower Dr., Hanover
1130 Cumberland St., Lebanon
1730 Wi…
