Party City Closing 45 Stores Due to Helium Shortage

The party's unfortunately over for multiple locations of Party City. The company has decided to close 45 out of their 870 locations over the rest of this year, an increase from the 10 to 15 stores that usually shutter in a given year. The main culprit? A global helium shortage, which has put a dent in Party City's balloon business. Luckily, however, the company has found a new helium source that should, er, buoy business in the next few years. "We believe this new source should substantially eliminate the shortfall we are experiencing at current allocation rates, and improve our ability to return to a normal level of latex and metallic balloon sales," Party City CEO James Harrison said in a press release. The complete list of affected stores hasn't been released yet, although Party City locations in California, Connecticut, Illinois, and Washington have announced their closure. [Business Insider]