INDIANAPOLIS (WISH) — Party City is closing all of its stores nationwide after 40 years in business. This includes all locations in Indiana. According to CNN, CEO Barry Litwin told corporate employees Friday in a meeting viewed by CNN that Party City is “winding down” operations immediately and that today will be their last day of employment.

Party City announced that it will shutter all stores, a move which ends the nearly 40-year history of the company and comes almost two years after it declared bankruptcy. Corporate employees of the party supplies retailer learned Friday that they would lose their jobs immediately,

The party is over at Party City, according to CNN, which reported on Friday that the party supplies retailer plans to shutter its more than 700 stores nationwide at the end of February. More than a dozen of the company's stores are located in the Bay Area.

The announcement was made to corporate employees Friday, who were told it was also their last day of work, according to CNN.

After 40 years in business, Party City is closing down for good. According to CNN, CEO Barry Litwin first shared the news with his corporate employees in a video conference on Friday. Litwin, according to CNN,

The retailer known for themed party decor, birthday balloons and Halloween costumes is reportedly “winding down” immediately.

The nation's largest party supplier has been in business for nearly 40 years and has more than 850 locations nationwide.

Party City is closing down all of its stores, ending nearly 40 years in business, CNN has learned. There are five Party City stores in Hampton Roads.