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On Dec. 21, Party City filed in the U.S. Bankruptcy Court for the Southern District of Texas, after already emerging from a previous bankruptcy in 2023 with about $1 billion less in debt.
In 2019 a global shortage of helium sharply reduced supply for helium-filled balloons, due to the US rationing helium because of a reduction in supply by 30% stemming from a Saudi-boycott of producer country Qatar, impacting party stores such as Party City, one of the reasons the company cited in closing 45 of its 870 stores. [6] [7]
Party City's headquarters are in Woodcliff Lake, New Jersey. [3] Party City is the largest retailer of party goods in Canada, Puerto Rico, and Mexico. Party City operates over 850 [4] company-owned and franchise outlets in over 70 countries around the world under the Party City, Halloween City, Toy City, Factory Card and Party Outlet brands.
In mid-1982, Walters and his then-girlfriend, Carol Van Deusen, purchased 45 eight-foot (2.4 m) weather balloons from a military surplus store [5] and helium tanks from California Toy Time Balloons. They used a forged requisition from his employer, FilmFair Studios , saying the balloons were for a television commercial.
Party City is closing 45 of its 870 stores this year, the company said Thursday. The company typically closes 10 to 15 stores annually. Party City is closing 45 stores amid a global helium ...
Map showing helium-rich gas fields and helium processing plants in the United States, 2012. From USGS. Helium production in the United States totaled 73 million cubic meters in 2014. The US was the world's largest helium producer, providing 40 percent of world supply. In addition, the US federal government sold 30 million cubic meters from storage.
The Crude Helium Enrichment Unit in the Cliffside Gas Field. Remnants of the Amarillo Helium Plant in 2015. The National Helium Reserve, also known as the Federal Helium Reserve, is a strategic reserve of the United States, which once held over 1 billion cubic meters (about 170,000,000 kg) [a] of helium gas.
Senate Bill 1499, proposed by Senator Jack Scott to the California State Senate on May 29, 2008, would have banned foil-lined party balloons in California because of the power outages they cause when they snag on power lines. [1] According to the Pacific Gas and Electric Company, there are 100–150 power outages each year due to metallic balloons.
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