Party City Closing 45 Stores Amid Global Helium Shortage

Party City ran out of helium to fill its balloons

That's the speculation after the party supply company announced it was closing 45 stores nationwide, instead of the 10 to 15 stores it normally closes.

Some of the stores which will be closed are located in Santa Clarita, Banning and Hemet in California; Meriden in Connecticut; DeKalb in IL; and Moses Lake in Washington.

"Overall, our first quarter results were largely in line with our expectations on the top and bottom lines, inclusive of the helium shortage, which negatively impacted our latex and metallic balloon categories", Harrison noted.

"The problem is, helium is being used up faster than it can be produced these days", Anders Bylund of the Motely Fool wrote.

"Because of this global helium shortage, fulfillment of balloon orders may be affected at your store".

Muslims observe Ramadan around the globe
Across the world, Muslims fast each day for the entire month of Ramadan , abstaining from food and drink from dawn to dusk. During fasting, Muslims refrain from consumption of food, drinks, smoking and engaging in sexual intercourse.

Commenting on the helium shortage, Harris remained positive about the outlook for Party City. The demand for the gas is growing while about 75 percent of helium comes from three suppliers in the world, USA Today reported.

Headquartered in Rockaway, the chain has about 900 retail stores in the United States and Canada, including 28 across New Jersey.

Despite the shortage, Party City has reportedly found a new source of helium that will alleviate the pressure of balloon sales that will help the company moving forward. A list of which stores will be closing was not provided by the company, but it was said the closures will happen throughout the year.

But the retailer has signed a new helium source agreement that will provide it with additional quantities beginning this summer, and continuing for the next two-and-a-half years.

Party City believes the new source should substantially eliminate the shortfall they are experiencing at current allocation rates and improve its ability to return to a normal level of latex and metallic balloon sales.

Related News:

  • Trump orders raising tariffs on essentially all remaining imports from China

    Trump orders raising tariffs on essentially all remaining imports from China

    The increased taxes only apply to shipments leaving China after midday Friday and don't affect shipments already in transit. President Trump had strong words for China on the matter earlier this week, but on Friday said the talks are "congenial".
    WhatsApp will stop working on all Windows smartphones

    WhatsApp will stop working on all Windows smartphones

    The mobile app had earlier ended support for Nokia Symbian S60 , Nokia Series 40 operating system, BlackBerry OS and BlackBerry 10 .
    Venezuela opposition lawmaker seeks refuge in Argentine Embassy after colleague's arrest

    Venezuela opposition lawmaker seeks refuge in Argentine Embassy after colleague's arrest

    Mnuchin claimed , vowing to " take further action if Cuba continues to receive Venezuelan oil in exchange for military support ". Another opposition figure, Marianella Magallanes, who had her immunity removed sought refuge in the Italian embassy.
  • Biden: 'Obligation' to give health care to illegals

    Biden: 'Obligation' to give health care to illegals

    After learning on Friday of Biden's emerging centrist plan on climate change, Ocasio-Cortez made her opposition to it known. Biden, then a USA senator from DE , is perceived by critics as not having done his due diligence at Hill's hearing.
    3 takeaways from 76ers' Game 6 win

    3 takeaways from 76ers' Game 6 win

    Embiid couldn't afford to rest, backup Boban Marjanovic checked in at minus-15 in just 4 1/2 minutes of playing time in the half. Lowry, who scored 13 points, knows he'll have to contribute more to get the Raptors to their first conference final since 2016.
    Pentagon: US moving Patriot missile battery to Mideast

    Pentagon: US moving Patriot missile battery to Mideast

    In addition to the Patriot system, the amphibious transport dock ship USS Arlington will also head to the Middle East. The US also blacklisted Iran's elite Revolutionary Guard Corps , designating it as a foreign terrorist group.
  • Rudy Giuliani Is Pushing Ukraine To Investigate Joe Biden’s Connections

    The news came hours after Trump had told Politico in an interview that he planned to speak with Giuliani about the trip. The former mayor also wants the country to find information about Joe Biden's son Hunter and a Ukrainian oligarch.
    Three UK players set to attend NBA Draft Combine in Chicago

    Three UK players set to attend NBA Draft Combine in Chicago

    No matter how much these teams might like Ja Morant , Williamson would be the first pick in any scenario. There is a long way to go between now and when they're on the clock on June 20.
    Uber opens below IPO price after biggest IPO of 2019

    Uber opens below IPO price after biggest IPO of 2019

    The hope among underwriters is that by pricing the stock conservatively, shares will experience a solid first-day gain. Uber entered a new era as a publicly listed firm on Friday, but shares fell in early trading to $42 (£32.20).
  • Brighton & Hove Albion v Manchester City

    Brighton & Hove Albion v Manchester City

    The two team's most frequently used first XIs cost plenty, but it's no surprise that City's cost more. We've shown many things but now is not the moment to say how well we've done.
    Chelsea sign David Luiz to new deal through 2021

    Chelsea sign David Luiz to new deal through 2021

    But I want Hazard with a very high level of motivation. " I can only speak to the player but like a father, not like a manager ". But nobody bet that we would go to the last game of the Premier League having already qualified for the Champions League .
    French military operation to free Sahel hostages ‘highly complex’

    French military operation to free Sahel hostages ‘highly complex’

    An American woman is among four hostages freed by French soldiers during a raid in the African nation of Burkina Faso .


Most liked

Scientists: Here's the $2.5T 'Holy Grail'
There are billions of tons of plastics in landfills and the oceans that will take a Herculean effort to clean up. Its building block is a monomer called diketoenamine: a compound formed by sticking a triketone to an amine .

Student Who Sued Over Chickenpox Policy Comes Down With The Illness
This meant that Kunkel, who also plays basketball, could not attend classes and participate in extracurricular activities. Kunkel's attorney said preventing the students from going to school fell short of containing the illness.

Philippines, US, Japan, India navies sail together in South China Sea
Roxas said the combined transit exercise deepened the partnership and fostered mutual understanding between the four navies.

Moeen Ali ruled out of first ODI against Pakistan
England's first one-day worldwide against Pakistan was abandoned because of persistent rain on a frustrating day at The Oval. Archer showed glimpses of his ability while making ODI and Twenty20 worldwide debuts against Ireland and Pakistan last week.

See Mark Ruffalo's The Hulk in Spoiler-Filled Scene from Avengers: Endgame
Also featured in the clip is Paul Rudd's Ant-Man who asks the youngsters if they'd like to take a photo with him. As per Joe, the film that concludes MCU storylines was actually called Avengers: Infinity Gauntlet.

Neymar receives three-match ban for hitting fan
Asked whether the Brazil star could become PSG captain in the future, Tuchel said: "There are many ways to show leadership". Other PSG players, including Gianluigi Buffon and Marco Verratti, were verbally abused by the same person and ignored him.

Young Afghan Boy Dances For Joy After Getting Prosthetic Leg
The ICRC said more than 4000 civilians were killed or injured by explosives in Afghanistan in 2018 - the most since 2010. Watching this video will definitely make up your day, as many try to seek for the true definition of happiness.

Rihanna, LVMH launch new fashion brand 'Fenty'
The launch marks the creation of LVMH's first new fashion house since 1987, the New York Times reported. Now, it's style: The singer's fashion brand is heading to Paris! "Big day for the culture", she wrote.

Trump jokes after rally attendee's suggestion to 'shoot' migrants at the border
The president briefly chuckled at the interjection, then shook his head and pointed in the direction of the audience member. The Washington Post did not immediately respond to a request for comment.

Manchester United must invest wisely in transfer market - Solskjaer
The report has emerged after United manager Ole Gunnar Solskjaer insisted the club must be "smart" in the transfer window this summer.

Steven Gerrard: Why I Left Liverpool's Historic Win Over FC Barcelona
The size of the club brings out the best in me. "On the guard of honour, the club has made a decision on it", said Gerrard. Steven Gerrard has confirmed that his side will not provide Celtic with a guard of honour on Sunday, as is the tradition.

Cheika makes surprise appearance at Folau's conduct hearing
Casselden, a SANZAAR and World Rugby judicial officer, will front Folau's case using evidence gathered by Quatami and his team. In any case, Australian rugby is massively exposed to financial risk that threatens the operation of the game.

'Nobody is happy': North Korea 'not ready' to negotiate with the US
The latest tests coincided with a visit to the South Korean capital by USA special envoy for North Korea Stephen Biegun. The sanctions have created economic difficulties for North Korea.

Bottas, Hamilton top Spanish GP practice for Mercedes
Five rounds into the Formula One season and Ferrari is already running out of time to catch Mercedes in the championship race. Everything is still very much up for grabs this season and we will be keeping our foot firmly to the floor".

House Ways and Means Committee subpoenas Trump's tax returns
Trump's personal attorney had suggested in a letter to Mnuchin in April that the Department of Justice should decide whether Mr. Lawmakers have warned they would go to court if Mnuchin didn't hand over the information.