Forever 21 Plans Hundreds of Store Closures in Second Bankruptcy

The US-based operator of Forever 21 Inc. is preparing to close at least 200 more locations from the fast-fashion retailer’s shrinking store base as part of a bankruptcy process that’s expected to kick off as soon as next month, according to people with knowledge of the matter.

The potential bankruptcy plan taking shape would seek a buyer for the retailer’s remaining stores, said the people, who asked not to be identified discussing a private matter. If no qualified buyer emerges, they said, Forever 21 would liquidate the entirety of its approximately 350-store chain.

At its height, Forever 21 operated more ...