Bargain chain Century 21 to shut down after nearly 60 years, Retail News, ET Retail

Davida Erdahl

NEW YORK : Century 21 Shops – a place for deal hunters on the lookout for unwanted fat promotions on designer attire and sneakers, cosmetics and housewares for just about 60 yrs – has filed for Chapter eleven personal bankruptcy and is winding down its business, shutting all thirteen outlets across New York, New Jersey, Pennsylvania and Florida.

Century 21 joins additional than two dozen stores who have filed for personal bankruptcy considering the fact that the pandemic, which forced non-important outlets to quickly close.

In a assertion, the New York-primarily based business explained that the determination followed nonpayment by the company’s coverage providers of somewhere around $175 million owing below procedures place in area to defend against losses stemming from business interruption. Insurance income served it rebuild its flagship shop, a magnet for locals and vacationers in downtown Manhattan immediately after it was broken by the nine/eleven assaults, the

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