At its height, Forever 21 operated more than 500 locations in the US and at least 800 worldwide. Its US footprint has since shrunk to about 350 stores. Bloomberg previously reported Forever 21 was looking to close almost two-thirds of its locations as part of a bankruptcy process.

The US-based operator of retailer Forever 21 Inc. is preparing to potentially close down its stores as part of a bankruptcy filing in the coming days, according to people with knowledge of the matter.

The fast fashion company is said to be is said to be "shifting toward a digital-first model," a source tells PEOPLE

The company behind the Forever 21 fashion brand is reportedly considering shutting down its brick-and-mortar store operations ahead of an imminent bankruptcy filing, according to Bloomberg. The brand has roughly 350 storefronts worldwide, which could all be in jeopardy as the brand’s search for a buyer continues to flounder.