Forever 21 files for bankruptcy protection in US amid stiff online competition

Forever 21 stores in the US will hold liquidation sales (AP)

Forever 21 has filed for bankruptcy protection for a second time as traffic in US shopping centres fades and competition intensifies from online retailers such as Amazon, Temu and Shein.

F21 OpCo, which runs Forever 21 stores, said that it will wind down the business in the US under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.