Fair 61°
Tag:

Party City

Business
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…

SHARE

by Chris Spiker
Business
These Party City Stores To Shut Down In Maryland, Virginia Amid Massive Closure These Party City Stores To Shut Down In Maryland, Virginia Amid Massive Closure
These Party City Stores To Shut Down In Maryland, Virginia Amid Massive Closure Dozens of Party City locations in the DMV region are among the hundreds set to be closed as the company announced it is going out of business. Both Maryland and Virginia were hit hard by the reported closure, which will impact approximately 800 stores across the country. Party City was founded in 1986 and is the largest retailer of party goods in North America. In Maryland, there are 19 stores among those set to be shut down in these locations, according to the company's website:  Annapolis; Baltimore; Bel Air; Catonsville; Cockeysville; Columbia; Forestville; Frederick; Gaithersb…

SHARE

by Zak Failla
Business
Party City Going Out Of Business, Closing All 800 Stores, Including 17 In VA Party City Going Out Of Business, Closing All 800 Stores, Including 17 In VA
Party City Going Out Of Business, Closing All 800 Stores, Including 17 In VA 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…

SHARE

by Joe Lombardi