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