Party City closing 45 stores, company says not related to helium shortage

There are currently 870 Party City stores in the U.S. and Canada.(Source: WPXI/CNNVAN)

(WPXI/CNN) - It could get more difficult to throw a party.

Party City, New Jersey based company, has announced plans to close 45 locations amid a global helium shortage.

But a spokeswoman for the party supplies store says the two events aren't related.

The company signed a deal with a new supplier of helium that will bring in additional supplies this summer and for the next two and a half years.

“We believe this new source should substantially eliminate the shortfall we are experiencing at current allocation rates and improve our ability to return to a normal level of latex and metallic balloon sales,” said Jim Harrison, CEO of Party City.

The party supplies store did not say which stores would be affected, only that the closings would happen throughout the year.

There are currently 870 Party City stores in the U.S. and Canada.

CEO James Harrison said in a statement that the closings would help them “focus on the most profitable locations” among other things.

Harrison said that Party City closes 10 to 15 stores each year, according to USA TODAY.

Copyright 2019 WPXI via CNN. All rights reserved.



 
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