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Bargain chain Century 21 to shut down after nearly 60 years

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www.fox29.com

NEW YORK - Century 21 Stores — a destination for bargain hunters looking for fat deals on designer dresses and shoes, cosmetics and housewares for nearly 60 years — has filed for Chapter 11 bankruptcy and is winding down its business, shutting all 13 stores across New York, New Jersey, Pennsylvania and Florida.Century 21 joins more than two dozen retailers who have filed for bankruptcy since the pandemic, which forced non-essential stores to temporarily close.In a statement, the New York-based company said that the decision followed nonpayment by the company’s insurance providers of approximately $175 million due under policies put in place to protect against losses stemming from business interruption.

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