Retail Chain Century 21 Files for Bankruptcy
Century 21 has 13 stores mostly in New York City and the surrounding metropolitan area. As of Thursday, it had 1,400 employees. The company blamed the lack of payment on its business interruption insurance as the cause of its demise.
Department store chains large and small were struggling even before the Covid-19 pandemic caused stores to shut temporarily and shift more purchases online. Stores that depended on clothing sales, such as Century 21, have been hit particularly hard as millions of people are out of work and millions more are working from home and not needing to buy as many dress clothes.