Beloved retail chain closing hundreds of its remaining stores days before Christmas

Party City, once the nation’s largest retail outlet for balloons and other party favors, announced Friday that it is closing all its stores after almost 40 years in business (Picture: ZUMA Press Wire)

The largest party supply retail chain in the US is closing all of its remaining stores ‘immediately’ – five days before Christmas.

Party City, which has more than 700 stores and franchises across North America, is ‘winding down’ operations, its CEO Barry Litwin told employees in a meeting today, according to CNN.