Map Interactive local COVID-19 tracker
Contact Us
Lewisboro Daily Voice serves Lewisboro, NY
Return to your home site

Menu

Lewisboro Daily Voice serves Lewisboro, NY
Business

COVID-19: Century 21 Files For Bankruptcy, Closing All Stores

Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection.
Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. Photo Credit: Google Maps street view

Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection.

The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release.

The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said. 

"While retailers across the board have suffered greatly due to COVID-19, and Century 21 is no exception," he said, "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, in hopes of another incredible recovery."

Century 21 will be removing a lawsuit pending in New York against a handful of insurance providers who apparently failed to compensate for its losses.

to sign up for Daily Voice's free daily emails and news alerts.

Welcome to

Lewisboro Daily Voice!

Hi! You've read our articles so we know you like our reporting. To keep reading please join our mailing list.

Get important news about your town as it happens.