The clothing retailer’s operator is reportedly considering a second bankruptcy as it explores strategic options in a challenging brick-and-mortar environment. Fast-fashion clothing chain Forever 21 is reportedly getting ready to shutter hundreds of locations as it considers filing for Chapter 11 bankruptcy protection.

Forever 21 would close the stores under the bankruptcy agreement. However, if the retailer can’t find a buyer while undergoing the bankruptcy process, it might shut down all remaining stores in the U.S, according to Bloomberg.

Forever 21 is planning to close nearly 200 stores. According to Bloomberg, this comes as the Los Angeles based retailer is heading into its second bankruptcy. The process is expected to kick off as soon as next month. Some mall-based stores in Fresno, Bakersfield and Palm Desert have already put up going-out-of-business signs.

Forever 21, once a symbol of trendy and affordable fashion for young shoppers, appears on the brink of another significant downturn. The U.S.-based operator of Forever 21 is reportedly preparing to close nearly 200 stores as the brand faces the very real possibility of a second bankruptcy filing.

Five months after Forever 21 filed for bankruptcy in 2019, SPARC Group, a joint venture between Authentic Brands and mall operator Simon Property Group, bought Forever 21 out of b