And the party is over . . . Party City (850 stores) preparing to file for bankruptcy

It’s not just Microsoft and Amazon and Google other tech companies laying off.
Party City is preparing to file for bankruptcy.

It has announced it bankruptcy intentions ----AND---- is asking to borrow money so apparently it is looking to restructure debt not to shutter its doors forever.

But bankruptcy is bankruptcy. It means the current lenders are unwilling and Party City is looking to to courts to force a solution.

The company currently operates more than 850 stores across the U.S., supplying everything from plates and balloons to costumes and streamers. But the post-pandemic business landscape has not been kind to retailers of all sizes, as many companies struggle to stay afloat. And now, it appears that Party City is preparing to file for bankruptcy within weeks,

Mass layoffs in the auto industry is how I remember the last great recession starting.

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