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Another iconic New York institution is shutting its doors for good.
The retail chain Century 21 announced today that it’s closing all 13 of its locations on the East Coast, many of which were located in the New York area.
The off-price retailer was known for its heavily discounted designer items encompassing everything from suits and dresses to home goods, accessories and more. The chain said that their main reason for shutting down is that their insurance provider failed to provide a necessary payment. (Similar disputes over payments regarding business interruption have been landing in courts all over the country, with many insurers arguing pandemics aren’t covered under their policies.)
Sadly, the New York-based chain joins a number of other well-known national retailers that have filed for bankruptcy since the start of the pandemic including Lord & Taylor, JC Penney and Neiman Marcus. The news is especially sad as its flagship Financial District location was miraculously able to continue after the 9/11 terrorist attacks, even though it was located just across the street from the World Trade Center. (For a few years after the attack, it acted as one of the main draws bringing people back to the area.)
The store, founded in 1961, says that they’re now commencing going-out-of-business sales at all of its locations.
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