Discount retailer Century 21 files for Chapter 11 bankruptcy closing all of its 13 stores after nearly 60 years in business

Century 21 Stores — a destination for bargain hunters looking for fat deals on designer dresses and shoes, cosmetics and housewares for nearly 60 years — has filed for Chapter 11 bankruptcy and is winding down its business, shutting all 13 stores across New York, New Jersey, Pennsylvania and Florida.

Century 21 joins more than two dozen retailers who have filed for bankruptcy since the pandemic which forced non-essential stores to temporarily close.

Century 21 store in Lincoln Square, Manhattan, NY ___________________________________

Sob story by Century 21 co-CEO Raymond Gind: “We now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time."

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Among the companies that have filed for bankruptcy during the pandemic are J.C. Penney, Loft owner Ascena Retail Group, True Religion and Lucky Brand.