Article Short description
Century 21, the US discount department store chain that filed for bankruptcy in 2020, will reopen its flagship branch in the city’s Financial District in April. Four of the store’s six original floors will be open, while the company looks for employees to staff its New York branches. The move comes after the company closed 13 stores last year following refusals by insurance firms to pay out on pandemic-related claims. Another store in Bay Ridge, Brooklyn will be redeveloped as a shopping centre capable of accommodating multiple tenants, according to the brand’s owner, the Gindi family.
The store will open tomorrow (April 25)
Century 21 is rising from the ashes of bankruptcy and will reopen its flagship department store in the Financial District at 22 Cortlandt Street on April 25. This is written by the Commercial Observer.
The revived store will be slightly smaller than the original. Only four of the six original store floors will be open.
There are no other details yet. It looks like the network wants guests to just come and see for themselves.
By the way, Century 21 is looking for employees in New York. If you are interested, the vacancies are here.
In 2020, the Gindi family, who own Century 21 through ASG Equities, closed 13 of the chain’s stores in New York, New Jersey, Pennsylvania and Florida due to the COVID-19 pandemic. ASG blamed the closures on insurance companies that refused to cover $175 million in damages due to forced closures caused by the lockdown.
On the subject: How New Yorkers save: from sales to vacations in neighboring states
The department store at 22 Cortlandt Street was one of the closed ones. Another Century 21 store that closed was in Bay Ridge, Brooklyn. It began its work in 1961 after being founded by the Gindi family.
In May 2022, the company announced that it would revive the Financial District location and the brand is expected to partner with Legends Hospitality.
But the Bay Street store might not open like that. ASG has decided to redevelop the property into a shopping center that can accommodate multiple tenants.
Read more NY daily news online on our portal.
