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Party City to shut down operations, fire employees, CEO says Party City Holdco Inc. will shut down and lay off its employees just 14 months after the company exited bankruptcy under a plan that had been designed to ensure the retailer’s long-term survival. Chief Executive Officer Barry Litwin told employees that the costume and party…

Detroit’s commercial real estate market outlook skyrockets for 2025 Detroit leapfrogged a lot of cities in a recent survey of real estate professionals nationwide on things like its investment potential and development opportunities. Of course, it’s always important to take surveys with a healthy dose of skepticism. They are snapshots, a cross-sample of a broader…

Gilbert-backed housing in North Corktown seeks tax reprieve for soon-to-be residents Housing advocates in the neighborhood just north of Ford Motor Co.’s Michigan Central Station are seeking a tax abatement for the area’s future residents. The North Corktown Neighborhood Association is asking city lawmakers to establish a Neighborhood Enterprise Zone (NEZ) property tax abatement for…

Home of Detroit’s only Whole Foods is up for sale One of Peter Cummings’ signature development projects in Detroit is now on the market —  the latest in a string of properties the prominent developer is looking to unload. There is no asking price for the retail space at The Ellington at Mack and Woodward…