Party City is reportedly planning its second Chapter 11 process amid financial difficulties, nearly two years after the first filing.

The New Jersey-based company has run out of cash for its operations and is behind on rent at some locations, Bloomberg reported, citing people with knowledge of the matter.

 Party City, once the largest retailer of party goods in North America, entered Chapter 11 in January last year amid $1.7 billion worth of debt. 

In September the same year, the chain reached a plan to exit bankruptcy, which saw a cancellation of about $1 billion in company debt and turned all its equity value over to the retailer’s lenders.

This August, the company appointed Barry Litwin as its new president and CEO. Litwin was expected to help the firm deliver new revenue growth, gross profit improvement, and operating expense efficiency.