Hit by headwinds including inflationary pressures, competition from e-commerce sites, big box retailers, pop-up stores and even a helium shortage, Party City is going out of business.

The closing of the nation's largest party supply store, reported by CNN on Friday, is expected to shutter more than 700 retail stores in North America by the end of February, including 10 stores in Minnesota.

According to the company's website, Party City has outlets in Apple Valley, Bloomington, Chanhassen, Coon Rapids, Maple Grove, Maplewood, Roseville, St. Cloud, St. Louis Park and Woodbury. Employees contacted at stores in Roseville, St. Cloud and Apple Valley said they had heard of the closing but could not comment.

Party City, which sells everything from balloons, costumes and birthday banners to gender reveal props and New Year's Eve tiaras, filed for Chapter 11 bankruptcy in January 2023. That resulted in the cancellation of nearly $1 billion in debt.

The 38-year-old New Jersey-based company exited bankruptcy after naming a new CEO, Barry Litwin, in August. But the company was still contending with more than $800 million in debt, according to CNN. The New York Times reported the company employed more than 16,000 people.