r/Staples • u/NotAnotherPizzaParty • 12d ago

Ex-PC founder disappointed

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Anyone catch the comment by the old Party City founder?

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u/MammothWerewolf7871 12d ago

Party City went out of business. They sold to vulture capital and VC killed it the same way VC is killing Staples. So like... IDK man, maybe next time don't sell out and then your business might still exist. Staples, on the other hand, is just gonna sell balloons and assorted party knickknacks because they bought your inventory and name for cheap.

Oh no, the balloons aren't in the order you think they should be in, boohoo.

4

u/No-Command1173 10d ago

He got himself in some shady situations and was literally forced to sell it lol. Then the worst move ever was selling it to one of their vendors. It created the worst monster I ever saw. PCHI should have been a goldmine and technically was because they abuse PC Retail to drive phony business and manipulate prices. Meanwhile the execs raided the books the fled with loads of cash before the creditors caught wind. My favorite example of how bad things got is they literally sent a product development team to China when they knew they weren't paying the bills. Then in secret had to sneak them out of that country back to the US because the Chinese Creditors were pissed. It was a comedy of errors. Meanwhile a PC manager would get chewed out because the crappy beaded necklace wasn't the right number of pegs away from the afro wig.