Party City just announced that they will be closing 45 of their stores this year.
The reason for this is due to a shortage of helium.
We are still waiting to hear which locations will be closing down.
James Harrison who is the CEO stated that the shortage has negatively impacted their latex and metallic balloon categories.
They are closing more stores this year to help optimize the market level performance and focus more on profitable locations to improve the health of the store as a whole.
Party City also announced that they found a new source of helium that should help maintain their sales.
What do you think about this?