Party City, the beloved go-to destination for all your party essentials, is facing a tough squeeze due to a worldwide helium shortage, leading to the closure of 45 of its stores across the U.S. If you’ve recently attempted to order balloons for a birthday bash, you may have been left feeling deflated.
In a statement, the company’s CEO, Thomas Reynolds, highlighted that the helium crisis has significantly affected their latex and metallic balloon offerings. While Party City typically shutters around 10 to 15 locations each year, this year’s closures are particularly driven by the ongoing helium drought. Their website even features a detailed explanation of the shortage—something many customers learned about firsthand when trying to fill festive balloons recently.
Helium is not just a party staple; it plays a vital role in various industries, from smartphones to medical imaging and even space exploration. The situation may seem astounding (I was taken aback when two employees at Party City informed me about it last fall), but the facts are clear. Qatar, which produces about 75% of the globe’s helium supply, has been unable to export it since 2017 due to a blockade imposed by Saudi Arabia.
Consequently, helium reserves held by the U.S. government in Texas and Wyoming are dwindling, compelling the Bureau of Land Management to ration its remaining supplies. Once the world’s leading helium producer, the U.S. made some questionable decisions in the 1990s, racking up debt from storing the gas and selling off its reserves.
Unfortunately, the helium crisis appears unlikely to resolve in the near future. Although Party City is downsizing, they are committed to meeting customer needs at the stores that remain open, even offering alternative options for helium-filled balloons. Because, let’s be honest, who can resist a classic balloon arch?
While the complete list of closing Party City locations hasn’t been released yet, Reynolds remains optimistic about the chain’s future. “We have signed an agreement for a new helium source, which, pending the final contract, should provide us with additional helium starting this summer and continue for the next two and a half years,” he stated. “This new supply should significantly alleviate our current shortfall and help us restore our latex and metallic balloon sales to normal levels.”
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In summary, the helium shortage is forcing Party City to close stores, but they are working on solutions to maintain their balloon business while keeping customers’ party needs in mind.
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