With more and more stores closing these days, it's hard to see some of our favorites closing their doors for the last time.

CNN reports that the CEO of Party City told the corporate employees in a meeting that it would be winding down operations and that they were going to start the 'going out of business' process.

No severance pay and benefits would cease when the company goes down.

It's unfortunate. I liked going to Party City.

It was a fun store to visit even if you weren't having a party. Just to see the balloons or the insane snack aisle.

Have you seen the snack aisle at Party City? You can get individual chocolate-coated candies of any color you could possibly need. Perfect for any party or wedding or whatever you may need. That was always a highlight for me to attend.

With more than 850 stores, all of them are set to close when they can. I wouldn't be surprised if they would have a going out of business sale to sell off any inventory they may be sitting on.

CNN was reporting that Party City did file for bankruptcy protection a couple of years ago, being $1.7 billion in debt.

And though that did help erase some of the debt, it wasn't enough, apparently.

With over 16,000 employees with Party City, that's a lot of jobs being eliminated. Sad to see it happen.

Keep an eye out for more details as they come through.

LOOK: 20 Outside-the-Box Uses for Vacant Big-Box Stores

When a big-box store shuts down, its closure can significantly affect the local community and its economy. In numerous instances, the emphasis has shifted from traditional retail to more experiential opportunities. Let's explore 20 innovative businesses and services that can make the most of these adaptable spaces.

Gallery Credit: Stephen Lenz

QUIZ: Can you identify 50 famous companies by their logos?

How well do you know the logos of 50 of the world's most famous companies? Keep scrolling to see if you can guess which icon belongs to which brand.

LOOK: 50 Famous brands that no longer exist

Stacker compiled a list of more than four dozen famous consumer brands that no longer exist, consulting sites such as TheStreet, Good Housekeeping, and Eat This, Not That!, along with numerous throwback sites dedicated to consumer brands.

Gallery Credit: Liz Barrett Foster

More From 92.9 The Bull