Party City Will Close 45 Stores This Year

May 12, 2019

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Due to a global helium shortage, CEO of Party City says they are closing 45 stores this year.

According to the company, they don't know which of the 870 stores will close, but says they will start closing throughout the year.

The CEO says that they usually close 10-15 stores yearly, but says they need to close more stores and "focus on the most profitable locations and improve the overall health of our store portfolio."

With the global helium shortage, balloon sales have plumated during the first quarter. The company started a new deal with a new helium supplier, in which, once that's done, the stores will have heliium by the summer.

 

via WFAA