Super Popular Retail Store Announces Huge Store Closures Due to Worldwide Product Shortage

america
May 10, 2019May 10, 2019

Thousands of Americans rely on local party supply stores to help them throw their celebrations each year. Sadly, one famous chain is closing dozens of locations due to a worldwide shortage.

According to reports, Party City announced Thursday that it will be closing 45 of its 870 stores this year amid a global helium shortage.

"The party supplies giant’s CEO James Harrison said in a statement that Party City closes 10 to 15 stores each year 'as a part of our prudent network optimization process and in response to ongoing consumer, market and economic changes that naturally arise in the business,'" reported Fox.

The helium shortage may also impact the balloons business across the country. Party City was particularly hit by a negative impact to their latex and metallic balloon categories.

"Domestically, helium reserves are being depleted while overall demand has risen. Likewise, about 75 percent of all helium come from three suppliers," according to USA Today.

Party City says they're working on finding a better way of getting helium so that their business is not impacted in the future. At this time, they haven't announced which of their locations will be shutting down for good.

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