Image source: JJBers / Flickr, CC BY 2.0
After filing for bankruptcy protection in September 2020 and closing 13 locations, Century 21 Department Store plans to make a comeback.
In that press release websiteAn off-price luxury retailer said it plans to renovate its US store and its e-commerce site in 2021.
“Never count New Yorkers,” the company said in a statement, adding that it was back “in response to the overflow of love from Big Apple and the praise of loyal shoppers from around the world.”
Details on when and where to open are in the final stages, and additional details will be announced in the coming weeks.
In December 2020, the Gindy family and individual investors, who founded, owned and operated Century 21 for over 60 years, purchased the brand’s intellectual property for $ 9 million after 34 bids. Bloomberg method report.
“Century 21 stores will continue to be a family-owned business that is synonymous with value and luxury,” the chain said in a press release. “They are determined to be a light of hope for the city and the country.”
according to Chain store eraThe renewal and expansion will be overseen by retail veteran Mark Benitez, who has been appointed president. Former Authentic Brands, Coach, and Kenneth Cole executives began retailing at Century 21 more than 20 years ago in the children’s division of the flagship store in downtown New York.
Century 21 is one of the dozens of retailers who have filed for bankruptcy and have been forced to temporarily close non-essential businesses since the outbreak of COVID-19 began.
Gindis bankruptcyHundreds of people were dismissed last fall as insurance companies did not pay a pandemic-related chain business suspension claim. The family sued an insurance company that denied the claim.
Source: Stock news