Home » World News » Retailer Century 21 planning comeback bid both nationally and internationally: report
Retailer Century 21 planning comeback bid both nationally and internationally: report
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Century 21 is stitching together a comeback bid.
The 60-year-old retailer — whose lower Manhattan flagship famously survived the 9/11 terrorist attacks, only to be shuttered last fall as the coronavirus forced the company into bankruptcy — is plotting a return to its hometown of New York City, as well as a nationwide expansion that could result in a footprint that’s bigger than before.
The iconic department store last September filed for Chapter 11, citing a legal dispute with an insurance company over its business-interruption claims. The surprise move shuttered 13 stores in New York, New Jersey, Pennsylvania and Florida, and shocked generations of bargain-minded fashionistas who flocked to its locations for deep discounts on designer duds from Gucci, Prada and Balenciaga.
CENTURY 21 FILES FOR BANKRUPTCY, TO CLOSE ALL STORES Now, after acquiring the company’s intellectual property for $9 million in December, the founding Gindi family is seeing opportunities amid a COVID-19 crisis that has devastated retailers and landlords alike, according to industry insiders.
“Plans for the US are very much underway as we speak,” Marc Benitez, the newly appointed president of the company, told The Post in a Monday interview. “We are looking at both bricks and mortar and an e-commerce strategy.”