Century 21 files for bankruptcy and will close all stores


By Timothy Bolger

Century 21 Stores, the New York-based discount department store, is closing all 13 of its locations nationwide, including its six New York City locations.

The nearly 60-year-old company filed for bankruptcy in Manhattan federal court, blaming insurers for non-payment of $175 million it says was due under policies after business was interrupted by the coronavirus pandemic.

“While retailers across the board have suffered greatly due to COVID-19, and Century 21 is no exception, we are confident that had we received any meaningful portion of the insurance proceeds, we would have been able to save thousands of jobs and weather the storm, in hopes of another incredible recovery,” Century 21 co-CEO Raymond Gindi said.

This story first appeared on our sister publication longislandpress.com.