(WJET/WFXP) — Fashion retailer Forever 21 has begun liquidation sales at several of its locations throughout the U.S.

First reported by the Wall Street Journal earlier this month, citing anonymous sources familiar with the matter, the company is reportedly in talks with investors as part of a second bankruptcy process, which could begin as early as next month. Bloomberg and USA Today have also reported the chain is considering bankruptcy.

At its height, Forever 21 operated at least 800 locations worldwide. However, after its first bankruptcy filing in 2019, that number plummeted to 500 locations worldwide.

The company is reportedly seeking a buyer for its remaining stores. If no qualified buyer is found, Forever 21 will reportedly liquidate its entire 350-store chain.

According to the Financial Post, the potentially closing stores had been losing money for years. Forever 21’s trademark and intellectual property are owned by brand management company Authentic Brands.

Five months after Forever 21 filed for bankruptcy in 2019, SPARC Group, a joint venture between Authentic Brands and mall operator Simon Property Group, bought Forever 21 out of bankruptcy, preventing potential liquidation.

Authentic Brands is now a unit of Catalyst Brands, a newly created company that came after the merger of SPARC Group and JCPenney in January.