Party City to Close 45 Stores Amid Helium Shortage
Party City to Close 45 Stores Amid Helium Shortage In an effort to boost overall profitability of their stores, Party City has announced the closing of 5% of their 870 locations.
CEO James Harrison has denied these closures are related to the current global shortage of helium.
James Harrison, via statement Helium supplies have been dwindling for the past few years, as about 75% of helium comes from only three places in the world.
Party City’s mylar balloon sales reportedly fell eight percent in the last quarter, due to the shortage.
In a statement, Harrison revealed that Party City is currently working to secure a new helium source.
James Harrison, via statement