Forever 21 is preparing for a second bankruptcy filing and planning to close at least 200 stores across the United States. The fast-fashion retailer, which first filed for bankruptcy in 2019, is struggling to compete with online giants like Shein and Temu.

Forever 21 is closing stores as the fast-fashion retailer's U.S. operator is considering bankruptcy, five years after the company escaped Chapter 11, according to multiple reports. The Los Angeles,

The US-based operator of Forever 21 Inc. is preparing to close at least 200 more locations from the fast-fashion retailer’s shrinking store base as part of a bankruptcy process that’s expected to kick off as soon as next month,