Forever 21맥스카지노�s U.S. operating company filed for bankruptcy Sunday 맥스카지노� for the second time in six years 맥스카지노� in a court in Delaware, citing fierce competition from foreign fast fashion retailers. It marks the end of an era for a clothing brand that introduced many teens to fast fashion.Video above: Forever 21 files for bankruptcy in 2019The company said in a statement that its 맥스카지노�stores and website in the United States will remain open and continue serving customers맥스카지노� as it implements an 맥스카지노�orderly wind-down맥스카지노� of its business in the country. It added that it would conduct liquidation sales at its stores and that it was seeking a buyer for some or all of its assets.Brad Sell, the company맥스카지노�s chief financial officer, said in the statement: 맥스카지노�We have been unable to find a sustainable path forward, given competition from foreign fast fashion companies맥스카지노� as well as rising costs, economic challenges impacting our core customers and evolving consumer trends.맥스카지노�Forever 21 has been unable to keep up with Chinese e-commerce giants such as Shein and Temu, especially as online shopping boomed during the COVID-19 pandemic. The company is also sensitive to President Donald Trump맥스카지노�s tariff hikes on Chinese imports into the United States.Forever 21 first filed for Chapter 11 bankruptcy in 2019 and subsequently shut down 200 stores. A few months later, a team consisting of mall operators Simon Property Group and Brookfield Properties and brand management firm Authentic Brands Group bought Forever 21 for $81 million. That allowed the retailer to keep operating with a smaller retail footprint.But years later, the outlook remained bleak.Forever 21 joins a long list of companies closing stores in the U.S. Last year, major U.S. retailers announced more than 7,300 store closures, up 57% from 2023, according to Coresight Research. These included Walgreens and CVS.Forever 21 currently has more than 맥스카지노�540 locations globally and online,맥스카지노� according to its website. At the time of its first bankruptcy filing, it had 800 locations worldwide.