Party City Going Out Of Business, Closing All 800 Stores, Including 42 In NY
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…
What Spirit Airlines' Bankruptcy Means For Holiday Travelers
Spirit Airlines, the no-frills budget carrier, announced it would file for Chapter 11 bankruptcy a week before a record number of people are expected to fly during the Thanksgiving holiday, reports said.
The Florida-based airline announced Monday, Nov. 18, that its debt, growing losses, and increased competition have kept the company in the red for four years, and it would need to restructure its bills to keep it in the air, NBC News reported.
However, despite its financial troubles, the airline promised passengers they would not feel any of that pain in the air.
"Guests …
Stealing Deed From Dead Man Lands Bucks County Men Jail Time: Usdoj
Two Bucks County men were convicted on Friday, Sept. 20 of trying to steal a deed from a dead man and other financial crimes, authorities said.
Alan Kane, 59, of Jamison, and Derrell Johnson, 42, of Bensalem, were found guilty after a trial for multiple fraud schemes, said U.S. Attorney Jacqueline C. Romero in a press statement on Monday, Sept. 23.
A federal jury convicted Kane, an attorney, on two counts of bankruptcy fraud, one count of filing a false claim in a bankruptcy proceeding, and one count of making a false statement to the FBI, Romero explained.
Johnson was convicted on tw…
Dream Weddings Wrecked: Paterson's Art Factory Files For Bankruptcy, Blames Lender
Erin Fowlie and Lindsey Nadolny fell in love with the Art Factory, to put it simply.
The Matawan couple signed a contract back in March 2023 with owners David Garsia and his wife, Donata, and put down $14,000 upfront for their Oct. 18, 2024 wedding.
"They said we had access to the premises at all times," said Fowlie, 33. "They said we were family, we were this, we were that."
But earlier this month, the brides-to-be came across a news article saying that the popular Paterson wedding venue, located in a refurbished warehouse on Spruce Street, was going bankrupt.
They showed Donata the…
