The fast-fashion retailer filed for chapter 11 after a failed turnaround effort by its owners, a consortium of shopping-mall landlords and brand manager Authentic Brands Group.

Forever 21's U.S. retail operator plans liquidation sales after filing Chapter 11 for the second time in six years.

Forever 21 was founded in Los Angeles in 1984. When Forever 21 filed for bankruptcy in 2019, the company closed about 200 of its domestic stores, CNN reported. Stores outside the U.S. are run by licensees and aren’t a part of the current Chapter 21 bankruptcy filing.

Forever 21 has filed for bankruptcy protection for a second time and plans to close down its U.S. business — inlcuding its three remaining South Carolina locations — as shopping

Forever 21 has filed for bankruptcy protection for a second time and plans to close down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.