GEORGIA — Party City is going out of business, closing all remaining stores in Georgia and elsewhere, ending its 40-year reign as the go-to party supplier in the country, according to CNN reporters who viewed a meeting of the company’s corporate employees Friday.
CEO Barry Litwin told corporate employees the company is “winding down” operations and Friday was their last day of employment.
“That is without question the most difficult message that I’ve ever had to deliver,” Litwin said at the meeting, which was held on a video conference call. Party City’s “very best efforts have not been enough to overcome” its financial challenges, he added, resulting in the company’s collapse…