2024 ended with surprising news—Party
City filed for bankruptcy for the second time in under 2 years. This time,
however, it was liquidating. On December 21, 2024, Party City filed for Chapter 11 bankruptcy,
looking to liquidate its assets. This happened after the
company sent home all of its employees nationwide on December 10, 2024 and
closed its corporate headquarters in New Jersey to everyone but executives on December 11, 2024. The resultant
liquidation plan seeks to close all Party City locations by this February.
