Century 21 is making a comeback — and it’s coming back again household to Manhattan’s Economical District.
The 60-12 months-previous retailer, recognised for its discounted designer products, introduced that it’s relocating back into its aged digs throughout the road from the Earth Trade Center soon after becoming forced out of business for two yrs by a September 2020 individual bankruptcy submitting.
The flagship store, housed inside the same Art Deco lender making at at 22 Cortlandt St. that has stayed vacant as a result of the pandemic, will reopen in the Spring of 2023 right after an in depth renovation that will shrink the area by fifty percent to about 100,000 sq. toes, according to a Womens Don Everyday report.
Century 21 — which had operated 13 merchants in New York, Pennsylvania, Florida, New Jersey — went belly-up soon after insurance policies businesses failed to pay up throughout the pandemic.
The individual bankruptcy filing and subsequent closures shocked the vogue earth at the time. It was an establishment in the Large Apple, attracting locals and vacationers alike, and had clawed its way back just after Sept. 11 when it was compelled to near for a period of time of time.
“I’d store there on my lunch break and bump into my board users and former colleagues,” reported Alliance for Downtown president Jessica Lappin. “Lower Manhattan has really missed that retailer.”
Owned by the Gindi household, Century 21 inked a offer with hospitality organization, Legends, which operates retail and food stuff venues at sporting activities stadiums, together with Yankee Stadium to relaunch the department store. Legends will cope with technological know-how, retail outlet functions and logistics, which includes staffing, in accordance to WWD.
The Gindi household purchased the Century 21 manufacturer for $9 million out of bankruptcy in December 2020 and has been plotting its return at any time due to the fact. The household has a a lengthy-phrase lease on the making that has about 75 decades still left, in accordance to WWD.
“Century 21 is and normally will be a New York Metropolis model,” main govt Raymond Gindi said in a statement. “We could not be much more enthusiastic to bring Century 21 back residence, offering the exact solutions and worth to customers in partnership with Legends.”
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