Discount store Century 21 is set to reopen its Financial District flagship store at 22 Cortlandt St. The four-floor store will offer designer apparel, footwear, accessories, and fragrances.
Century 21 was a renowned fashion destination in New York known for providing luxury items at discounted prices. The store made $747 million in revenue in 2019. Plans to open new locations, including one at the American Dream Mall, were halted due to insurers’ refusal to pay $175 million for losses resulting from COVID-19 business interruptions. The store faced bankruptcy and closed its 13 East Coast stores in 2020.
The Gindi family, along with a private investor, acquired the brand’s intellectual property for $9 million. The bankruptcy proceedings resulted in legal disputes with Ben Ashkenazy, the CEO and retail real estate titan behind Ashkenazy Acquisition Corp. Gindis have investments in several of Ashkenazy’s properties.
Century 21 Reopens in FiDi After ’20 Bankruptcy
Century 21 Reopens in FiDi After ’20 Bankruptcy
Discount store Century 21 is set to reopen its Financial District flagship store at 22 Cortlandt St. The four-floor store will offer designer apparel, footwear, accessories, and fragrances.
Century 21 was a renowned fashion destination in New York known for providing luxury items at discounted prices. The store made $747 million in revenue in 2019. Plans to open new locations, including one at the American Dream Mall, were halted due to insurers’ refusal to pay $175 million for losses resulting from COVID-19 business interruptions. The store faced bankruptcy and closed its 13 East Coast stores in 2020.
The Gindi family, along with a private investor, acquired the brand’s intellectual property for $9 million. The bankruptcy proceedings resulted in legal disputes with Ben Ashkenazy, the CEO and retail real estate titan behind Ashkenazy Acquisition Corp. Gindis have investments in several of Ashkenazy’s properties.
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