ROCKAWAY, N.J. (CBS) – Party City is closing more stores this year than previously projected.
“Overall, in the second quarter we continued to experience headwinds from direct and indirect impacts of the helium shortages and higher helium costs in many of our markets,” CEO James Harrison said.
Harrison said the decision to close more stores is “completely unrelated to the global helium shortage.” He added that the company has secured an additional helium supply.
There are 21 Party City locations in Massachusetts. There’s no word yet on which stores will be shutting down.
Party City typically only closes about 10 to 15 stores a year.
The company has been struggling with helium supply levels for more than a year, and balloon sales have suffered.