Forever 21 has filed for bankruptcy protection for a second time and plans to close its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.

F21 OpCo, which runs Forever 21 stores, said Sunday that it will wind down the business under Chapter 11 protection and see if it can continue with a partner or sell assets.

“We have been unable to find a sustainable path forward, given competition from foreign fast fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin,” CEO Brad Sell said.

The tax exemption lets shipments headed to the U.S. valued at less than $800 to enter the country tax free and duty free. — Associated Press