Party City Is Closing Stores Due to Global Helium Shortage

Party City has announced they will be closing 45 stores during the course of the remainder of 2019.

The reason? A global shortage of helium, in part.

In a news release for investors, the chain says the shortage in the gas used to fill balloons has hurt its profits.

The statement says the company will focus on its most profitable stores, but did not name which stores would be closing.

There are around 870 total Party City stores across the US and Canada. About 20 of those fall within the Baltimore-Washington region.

Party City says they are working to finalize a contract with a new supplier of helium that they hope will restore profitability of balloons for them in the next 2-3 years after the contract is signed.

Source: FOX45

Photo Credit: Getty Images

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