Forever 21 laying off more than 350 workers, closing LA headquarters

LOS ANGELES (KABC) -- Fashion retailer Forever 21 is laying off more than 350 workers and shutting down its Los Angeles corporate headquarters.

The layoffs are expected to start on April 21. This comes on heels of store closures across several states.

The company isn't specifying how many locations it is shutting down. Last week, Bloomberg reported that the company was planning to close nearly 200 stores.

The L.A.-based retailer, whose name was synonymous with early 2000s fashion, has faced financial difficulties trying to compete with Chinese online discount retailers Shein and Temu.

The company is hoping that a possible sale is in the works as it tries to avoid bankruptcy for the second time.