Who was appointed CEO in August, said that he saw “many opportunities to strengthen our financial performance and build a leading end-to-end celebration experience for consumers.”
He was the CEO of Global Industrial Company, a leading distributor of industrial goods, before being hired.
Spirit Halloween has continued to develop both within and outside of the scary season, adding to the competition in the party products and costume market in recent years.
In October, the holiday costume business revealed plans to establish ten additional “Spirit Christmas” shops, some of which would be converted from Spirit Halloween sites already in place.
Even after Party City started selling products on Amazon in 2018, online merchants have put further strain on the company’s operations.
CNBC’s request for comment on CNN’s report and possible story closures was not immediately answered by Party City representatives. Go here to read the whole CNN story.
