A global helium shortage made balloon filling so expensive that Party City couldn't afford to sell them cheaply enough. Balloons were their main draw, so when customers stopped coming, revenue collapsed and the company filed for bankruptcy in 2023.
Party City was the go-to store for any celebration, but they declared bankruptcy in 2023 all because of this balloon. Well, what happened? So imagine this, your birthday's just around the corner and your mom is going all out. We're talking about the best birthday party ever. And what's a party without balloons? She races to your local Party City store. There's costumes, piñatas, party goods, but no balloons. You can't have a party without balloons. So what's going on? Well, we're in the middle of a global helium shortage. They say it's getting too expensive to fill up all those balloons. You know, that magic gas that makes balloons float, helium mining companies have completely stopped producing the gas. And this is bad for Party City. Turns out balloons are the main reason people shop at their store. No helium means no balloons, which means no customers. Party City responds by paying almost double for helium, but your mom isn't willing to pay double for balloons, so this deflates sales across the board. So what's more sad, Party City's stock price tanking all the way to $0, or all those crappy birthday parties without balloons?
