Long-Time Company with Location at NewPointe Plaza is Closing Dozens of Stores for Unique Reason
By Connect-Bridgeport Staff on May 15, 2019
EDITOR'S NOTE: A list of stores closing has not yet been released.
According to this report from NBCnews.com, a global helium shortage is proving to be the ultimate party pooper.
Party City, the New Jersey-based party supply company, announced Thursday it will shutter around 45 stores in locations throughout the nation, citing a short supply of helium hitting its profit margin.
“This year, after careful consideration and evaluation of our store fleet, we’ve made the decision to close more stores than usual in order to help optimize our market-level performance, focus on the most profitable locations, and improve the overall health of our store portfolio,” Party City Chief Executive Officer James Harrison said in a release.
Party City had been closing 10 to 15 stores, on average, in recent years, but with the future of helium uncertain, those numbers have climbed to nearly 5 percent of all of the chain’s locations.
Click HERE for the rest of the report.
