Party City Announces Additional Actions in Response to COVID-19
Party City Holdco Inc. (PRTY)
Last party city holdco inc. earnings: 3/12 06:55 am
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US:NYSE Investor Relations:
investor.partycity.com/investors/default.aspx
Company Research
Source: GlobeNewswire
ELMSFORD, N.Y., April 08, 2020 (GLOBE NEWSWIRE) -- Party City Holdco Inc. (the “Company” or “PRTY”; NYSE:PRTY) today announced additional measures it is taking in response to the current business environment created by COVID-19. As previously announced on March 27, 2020, the Company extended the temporary closures of its stores until further notice. The Company’s e-commerce site, www.partycity.com, remains fully operational and the number of stores offering curbside pickup continues to expand. Today the Company announced the following additional actions: A temporary base salary reduction of 50% for Brad Weston, Chief Executive Officer, 30% for Todd Vogensen, Chief Financial Officer and 15% to 20% for the remainder of the executive leadership teamThe Board of Directors has elected to forgo their respective quarterly cash retainers for the second quarter of 2020The furlough of approximately 90% of store employees and 70% of wholesale, manufacturing and corporate employees. Th
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