Why Party City is closing after 40 years.
— 🆒 Chris Parry (@ChrisParry) December 20, 2024
1. Bought by private equity firm Berkshire Partners, using debt financing.
2. Upon purchase, Berkshire immediately upped prices and cut variety, forcing the chain to only buy from suppliers Berkshire owned, while servicing the debt.
Evil.
These billionaires are draining all of our resources including people. We have 10 Party City stores in San Diego and all of those employees are out of work. Sad.
If you haven't used your 99 cent 2 liter soda q for Smart and Final yet... Let's just say you should click "Shop for Items" and see what the q really applies to. 🥜 😏
ReplyDeleteThank you, Gavin!
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