This ad will be closed automatically in X seconds.

Party City says closures are ‘completely unrelated’ to helium shortage

US party retail chain Party City has commented on its plans to close 45 branches throughout 2019, emphasising that the store closures are completely unrelated to the current global helium shortage.

“It’s important to note that Party City’s decision to close an increased number of stores in 2019 is completely unrelated to the global helium issue,” said Party City ceo Jim Harrison in a statement. “These are two separate topics, the latter of which we’ve made significant in-roads in addressing.”

He continued: “The decision to close 45 stores in 2019 is part of our network optimization process focusing on maximizing store performance on a market basis. We believe that the opportunity to recapture much of the business conducted in the closed stores in other Party City locations within the market will provide for overall improved profitability for our company.”

“It is also important to note that most of the stores being closed were themselves profitable on a stand-alone basis,” he added.

It has not yet been announced which of the 850 US stores will be closing.

MORE NEWS
hall500
 
Social media mood board Pinterest has revealed its most searched-for Halloween inspiration for 2019....
bloon500
 
The new eco-friendly balloon stick has sold over 10 million units in just eight months....
mask500
 
Party mask company has added photo face bunting and garlands to its novelty range....
party500
 
Party retailer adds industry veterans, John Frascotti and Jim Conroy, to its board of directors....
amsc500
 
Smiffys and Amscan added their special touch to Tuesday night's celebrations....
smif500
 
The Barbie costume was named the winner of the hotly-contested Best Licensed Dress-up or Partyware Range at Tuesday night’s Licensing Awards....
Get the latest news sent to your inbox
Subscribe to our daily newsletter