Two years after filing for bankruptcy, Century 21 will reopen its New York flagship store next year


Century 21 is making a comeback.

The New York-based off-price retailer said it will reopen its longtime Cortlandt Street flagship store in midtown Manhattan next spring.

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According to a statement sent by the retailer, Century 21 has partnered with premium experiences company Legends to introduce a “revitalized shopping experience” in-store and online.

The partnership will introduce a “more streamlined customer shopping experience through in-store upgrades and an increased e-commerce presence, which will debut at the same time as the physical store opens,” the retailer said. .

The reopened Cortlandt Street location will span the four main floors of the original downtown space and will offer apparel, footwear, outerwear, handbags, accessories and fragrances from designers for men, women and children.

“Century 21 is, and always will be, a New York brand,” Raymond Gindi, co-CEO of Century 21, said in a statement. “Our flagship store has long been a symbol of this city’s resilience and unwavering spirit. In our 60-year history, we’ve only closed our doors twice, once after the devastation of 9/11 and then again during the COVID-19 pandemic. But like the true New Yorkers that we are, we persevered. We couldn’t be more excited to bring Century 21 home, bringing the same products and value to customers, in partnership with Legends.

The announcement marks the return of the low-cost retailer, which filed for Chapter 11 bankruptcy in September 2020 and led to the closure of its 13 locations in New York, New Jersey, Pennsylvania and Florida.

According to the retailer at the time, the decision to seek Chapter 11 protection came after its insurers failed to pay about $175 million under certain policies put in place to protect against losses from business interruptions, such as those suffered as a result. of the coronavirus pandemic.

During the 2020 bankruptcy process, the Gindi family, which owned, operated and founded the popular off-price chain, bought out the intellectual property for $9 million, along with a limited partner. However, the company is now wholly owned by co-CEOs IG and Raymond Gindi, and their two cousins, Eddie and Isaac Gindi.

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