Party City is closing stores in California, Illinois, Connecticut, and Washington.
is closing 45 of its 870 stores this year, the company said Thursday. The company typically closes 10 to 15 stores annually.
"We believe this new source should substantially eliminate the shortfall we are experiencing at current allocation rates and improve our ability to return to a normal level of latex and metallic balloon sales," Party City CEO James Harrison said in a press release. The company typically closes about 10 to 15 stores annually, but it will close a higher number of stores this year so it can better focus on its most profitable locations, Harrison said.
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