Party supplies retailer Party City is permanently shutting down, CNN reported Friday. Its retail footprint in North America spans over 700 company-owned and franchised stores.

Party City, the largest party supply store in the United States, is going out of business and closing down all of its stores, CNN reported. The company will be “winding down” operations immediately and today will be the last day of employment for corporate employees, chief executive Barry Litwin reportedly said in a meeting Friday.

Party City, which has been struggling since the COVID-19 pandemic, filed for Chapter 11 bankruptcy protection in the United States on Saturday for the second time in two years as it plans to wind down its retail and wholesale operations.