Bargain chain Century 21 to shut down after nearly 60 years

NEW YORK : Century 21 Merchants – a location for deal hunters wanting for unwanted fat promotions on designer dresses and footwear, cosmetics and housewares for nearly 60 years – has submitted for Chapter 11 personal bankruptcy and is winding down its business, shutting all 13 suppliers across New York, New Jersey, Pennsylvania and Florida.

Century 21 joins additional than two dozen suppliers who have submitted for personal bankruptcy since the pandemic, which forced non-necessary suppliers to quickly near.

In a assertion, the New York-dependent business said that the final decision adopted nonpayment by the company’s insurance policy providers of somewhere around $a hundred seventy five million due beneath guidelines place in put to protect towards losses stemming from business interruption. Insurance policy dollars aided it rebuild its flagship shop, a magnet for locals and travellers in downtown Manhattan after it was weakened by the nine/11 assaults, the business said.

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