A clothing store and shopping staple is going bankrupt. Forever 21 has filed for bankruptcy in the US. According to Reuters, this is the second time the retail chain has filed for bankruptcy, largely due to competition with fast fashion and a decline in mall traffic. The first time was in 2019, when they closed 200 stores. There are currently around 350 stores in America. There will be liquidation sales at all of Forever 21’s U.S. stores.