Party City Provides Update on Response to COVID-19
March 18 2020 - 6:55AM
Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today
announced it will temporarily close its corporate owned and
operated retail locations in the United States effective
immediately, in an effort to help contain the spread of COVID-19
and align with the evolving guidance from federal and local
health officials. The Company currently expects these stores to
remain closed through March 31, 2020, but we will continue to
assess the COVID-19 epidemic.
To further prioritize the health and safety of its employees,
Party City has also implemented a work from home schedule for
corporate office personnel through April 3, 2020.
Brad Weston, CEO, commented, “As always, the well-being of our
team members, customers and their communities remain of utmost
importance to us. As a result of recent COVID-19 developments, we
decided to close our corporate owned retail locations throughout
the United States. We will continue to monitor the situation and
provide updates at PartyCity.com and through our social
channels.”
Weston concluded, “Our website PartyCity.com will be fully
operational to help our customers celebrate the moments that matter
most - whether that’s a child completing a home-school project,
creating a family movie night, or celebrating important birthdays
and anniversaries in creative new ways during this unprecedented
time.”
About Party City
Party City Holdco Inc. is the leading party goods company by
revenue in North America and, we believe, the largest vertically
integrated supplier of decorated party goods globally by revenue.
The Company is a popular one-stop shopping destination for party
supplies, balloons, and costumes. In addition to being a great
retail brand, the Company is a global, world-class organization
that combines state-of-the-art manufacturing and sourcing
operations, and sophisticated wholesale operations complemented by
a multi-channel retailing strategy and e-commerce retail
operations. The Company is the leading player in its category,
vertically integrated and unique in its breadth and depth. Party
City Holdco designs, manufactures, sources and distributes party
goods, including paper and plastic tableware, metallic and latex
balloons, Halloween and other costumes, accessories, novelties,
gifts and stationery throughout the world. The Company’s retail
operations include approximately 875 specialty retail party supply
stores (including franchise stores) throughout North America
operating under the names Party City and Halloween City, and
e-commerce websites, principally through the domain name
PartyCity.com.
Contacts
Investor Relations ICR Farah Soi and Rachel Schacter
203-682-8200 InvestorRelations@partycity.com
Media Relations ICR Brittany Fraser
203-682-8200PartyCityPR@partycity.com
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