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New York -- Party City is closing down all of its stores, ending nearly 40 years in business, CNN has learned. CEO Barry Litwin told corporate employees Friday in a meeting viewed by CNN that ...

The party may be winding down. Party City is planning to file for its second bankruptcy in nearly two years as the company’s sales figures continue to struggle, according to a report.

Party City filed for bankruptcy Saturday for the second time in less than two years. The filing comes after the retailer told employees Friday it would begin “winding down” operations.