Forever 21 filed for bankruptcy protection for a second time and is expected to close all U.S. stores, after it faced steep competition from Chinese-founded e-tailers like Shein and Temu. The fast-fashion retailer has already started going out of business sales at more than 350 locations,

The company said it struggled against other fast fashion retailers like Shein and Temu as it implements an “orderly wind-down” of its U.S. business.

F21 OpCo, LLC, the company and licensee of the brand in the U.S., filed a Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware. Although stores will remain open for now, Forever 21, which is headquartered in Los Angeles, said it will hold liquidation sales at its U.S. stores.

Forever 21 filed for chapter 11 bankruptcy and plans to close all its 350 locations, following weeks of speculation, the fashion brand announced Sunday. Reports had circulated in the last several weeks that the fashion brand was close to filing for bankruptcy after shuttering its Los Angeles headquarters.