The future of the Party City located on Golden Valley Road in Canyon Country is uncertain as the store begins liquidating its stock.

Although the Golden Valley store has been confirmed to be closing in the upcoming months, store employees have not been informed of the exact time frame of when the closure will occur, according to store employees.

“There is no set date. We are going through the liquidation process,” said Jackie Herrera, team lead for the store. “We’re just getting rid of old merchandise.”

In a company investor report on 2018 profits and its fourth quarter released Feb. 28, the parent company Party City Holdco Inc. stated that Party City had opened 15 new stores and closed 10 last year. It also acquired 56 independently-owned or franchised stores last year, according to the report.

Global helium shortages have also put pressure on the party planning, medical and aerospace industries in recent years, leaving the three known sources of the gas “a little up in the air,” according to the company website.

James M. Harrison, Chief Executive Officer of Party City Holdco Inc., stated in the report that the company would hold firm in order to combat the complications caused partially by these shortages.

“As we begin fiscal 2019, we plan to capitalize on tailwinds that will present themselves,” said Harrison. “Including a Thursday Halloween, significant new licensed properties and benefits from supply chain investments that we made following disruptions that impacted the business in 2018.”

In that same investor report, Party City said it earned $400 million in profits in 2018, or $1.61 per share. Adding up to earnings that were 2.4 percent higher than in the previous year.

The company indicated that besides the helium shortage, increased freight and distribution costs were factors that had also slowed their potential growth.

Retail sales for Party City overall increased by 4.3 percent last year, according to the report.

In addition to Party City, the company operates over 950 stores under other brands, including Halloween City, Toy City and e-commerce websites, according to the company website

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