• Fashion

    Century 21 Closing: NYC’s Beloved Discount Retailer Files Bankruptcy

    Oh, man, this one stings. In a year of retail crises and closures in New York City, Century 21 — the discounter with roots in Brooklyn and a flagship store in the Financial District — is the latest to declare bankruptcy and will likely shut down all its stores, Bloomberg reports this morning. It’s in a standoff with its insurance carrier over its business-interruption payout, and, barring some kind of eleventh-hour reprieve, it’s a goner. Century 21 is one of the last of the great off-price fashion chains in New York, and we can now add its name to the pipe-rack mausoleum that houses Syms, Loehmann’s, Moe Ginsburg, Daffy’s, and…

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  • Fashion

    Century 21 is Closing – The New York Times

    Century 21, the famous New York discount store chain, became the latest retailer felled during the pandemic, saying on Thursday that it had been forced to file for bankruptcy and would close all 13 of its locations after failing to receive money from its insurers. The retailer said in a release that its insurance providers had not paid about $175 million due Century 21 “under policies put in place to protect against losses stemming from business interruption such as that experienced as a direct result of the Covid-19 pandemic.” Raymond Gindi, a co-chief executive and a son of a founder, noted that insurance money had helped Century 21 rebuild after…

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