Party City is the latest big retailer to announce it is going out of business.
CNN reports that the company’s CEO told employees on Friday that operations are “winding down” for Party City and that Friday is the last day of employment for workers.
Five days before Christmas, employees learned they will not receive a severance and benefits will end alongside the going out of business decision.
Party City filed for bankruptcy in early 2023 and never got back on stable financial ground.
Party City operates over 850 stores in the United states and “is the nation’s largest party retailer,” according to its website.
On Thursday, it was announced Big Lots! stores across the country are beginning Going out of Business sales soon.