Party City Provides Update on Response to COVID-19
ELMSFORD, N.Y., March 18, 2020 (GLOBE NEWSWIRE) -- 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 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 .
Contacts
Investor Relations
ICR
Farah Soi and Rachel Schacter
203-682-8200
Media Relations
ICR
Brittany Fraser
203-682-8200
