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, a longtime retailer and go-to source for many of party supplies, is closing all its stores and going out of business, according to a report from CNN. Company CEO Barry Litwin told corporates employees in a meeting Friday the company is “winding down” operations and and today was their last day working there,