Party City filed for Chapter 11 bankruptcy as it aims to cut debt.

Party City Files For Bankruptcy

The party might be over at Party City, the retailer filing for Chapter 11 bankruptcy as it aims to cut down its debt. I guess not enough parties in this pandemic world. Party City is a publicly traded company so that stock their shares at just 38 cents a piece, even though, you know, they are a hair higher today. But the company expects to be able to come out of bankruptcy in four months, and it's been hit hard since the pandemic, with parties happening on a smaller scale, as well as continued challenges like higher costs and lower demand.