Fashion

Century 21, Bankrupt, Is Closing All Its Stores

The pandemic deals another blow to retail.

By
478 Hypes

Century 21, Bankrupt, Is Closing All Its Stores

The pandemic deals another blow to retail.

Century 21, New York‘s famed discount department store, has declared bankruptcy and will likely close all of its stores.

According to a report by Bloomberg, the company announced its fate after insurance providers refused to pay approximately $175 million USD in claims under “business interruption” policies, coverage retailers have sought to offset losses caused by the coronavirus pandemic. “While retailers across the board have suffered greatly due to COVID-19, and Century 21 is no exception, we are confident that had we received any meaningful portion of the insurance proceeds, we would have been able to save thousands of jobs and weather the storm,” CEO Raymond Gindi said in a statement.

The shuttering of Century 21’s original Brooklyn location as well as its Lower Manhattan flagship store, which survived 9/11 and the 2008 financial crisis, poses a symbolic loss to New York City shoppers. Over the past few days, crowds have lined up to shop its final sales before it closes all 13 stores across New York, New Jersey, Pennsylvania and Florida.

Read Full Article
Source
Bloomberg

What to Read Next

12 Thigh-High Boots to Elevate Your Look This Fall
Fashion 

12 Thigh-High Boots to Elevate Your Look This Fall

The trend is back, as seen in runway shows from Bottega Veneta, Saint Laurent and more.
1,458 Hypes

Serena Williams Returns As the Face of Stuart Weitzman
Fashion

Serena Williams Returns As the Face of Stuart Weitzman

The brand’s global spokeswoman stuns in the new FW20 campaign.
3,180 Hypes

All the Cult-Favorite Beauty Tools You Should Invest in
Beauty 

All the Cult-Favorite Beauty Tools You Should Invest in

Treat yourself ahead of fall.
1,168 Hypes

Pangaia Introduces Zero-Waste Sneaker
Footwear

Pangaia Introduces Zero-Waste Sneaker

Made from plant-based “leather” and recycled rubber.
914 Hypes

Heritage Jewelry Label Mikimoto Launches First-Ever Perfume
Beauty

Heritage Jewelry Label Mikimoto Launches First-Ever Perfume

A gender-neutral scent inspired by the cool sea breeze.
296 Hypes

Natural Skincare Brand Evereden Launches Golden Belly Serum for Moms-to-Be
Beauty

Natural Skincare Brand Evereden Launches Golden Belly Serum for Moms-to-Be

The label leaves out over 2,000 questionable ingredients in all of its products.
410 Hypes

More ▾
 
Subscribe to our Newsletter

Keep updated on the latest news.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.

Help Support Us

We need ads to keep the website running and to continue providing free news to our readers. We'd appreciate your support by whitelisting HYPEBAE on your ad blocker.

If you have already whitelisted us, simply refresh this page. To find out how to whitelist us, click the button below.

Back

Add Us to Whitelist

We appreciate your support in allowing HYPEBAE ads. Most ad blockers have similar whitelisting steps and settings. If you need assistance, please contact us.

Adblock Plus

  1. Click on the red ABP icon in the upper right corner of your browser.
  2. Click “Enabled on this site” to disable ad blocking for the current site. In Firefox click “disable on HYPEBAE”.
  3. Refresh the HYPEBAE page that you were viewing.

Adblock

  1. Click the AdBlock hand icon.
  2. Click “Don’t run on pages on this domain”.
  3. A new “Don’t run AdBlock on…” dialog may be displayed in the middle of the screen.
  4. Move the “Site” slider to the right. After that, click “Exclude”.
  5. Refresh the HYPEBAE page that you were viewing.

uBlock

  1. Click the uBlock icon.
  2. Click the large blue “power” button in the menu that appears to whitelist the current website.
  3. Reload the HYPEBAE page that you were viewing.

Firefox Browser

Firefox Tracking Protection may activate our whitelist notice, which can be disabled temporarily for a browsing session by clicking the shield icon in the URL bar and following the instructions.

Disconnect

  1. Click the Disconnect icon.
  2. Click “Whitelist site”.
  3. Refresh the HYPEBAE page that you were viewing.