This Out-Of-Business Department Store Is Making a Surprise Comeback
After being forced out of business in 2020, this store is opening its doors again soon.
Over the course of the pandemic, lockdowns and store closures sent many companies permanently out of business. Department stores were some of the first stores to go, including some that had been around for over a century. But while we've sadly said goodbye to some of our favorite shops forever, one of the most iconic department stores is making a comeback this year: Century 21 just announced it will be reopening stores in 2021. Keep reading to find out more about this exciting return, and for more retail news, This Iconic Department Store Is Closing Even More Locations.
Century 21 will be reopening stores in 2021.
Century 21, the iconic New York City-based department store, will be reopening in 2021 after being forced to shut its doors in the fall of 2020. The company released a statement on Feb. 23 that read, "In response to the outpouring of love from the Big Apple and the admiration of their loyal shoppers from around the world, Century 21 Stores today announced they will officially relaunch the beloved institution in 2021."
Per the statement, most of the details of where and when the stores will return are still in the works. Before shuttering its stores, Century 21 had 13 locations across New York, New Jersey, Philadelphia, and Florida. However, the store is now looking to expand to new locations. And for more retail news delivered straight to your inbox, sign up for our daily newsletter.
Century 21 filed for bankruptcy in Sept. 2020.
The department store has come a long way from where they were five months ago. On Sept. 10, Century 21 announced they had filed for bankruptcy and would be shutting down all 13 of their locations.
In a statement from Century 21, co-CEO Raymond Gindi placed some of the blame on the company's insurers, accusing them of turning their backs on the company at such a crucial time. "We would have been able to save thousands of jobs and weather the storm" had the company received an adequate insurance payout, Gindi claimed. And for a recent store closure, This Legendary Brand Is Closing Its Last Remaining Stores.
The company is expanding abroad.
"As the first step of the brand's revival, a Century 21 store will open its doors for the first time in Korea as part of plans that were put into place prior to the pandemic," the company's statement says. The Korean location will open in Busan in early summer.
The statement also announced the company's plans to expand throughout the globe and across the country, in addition to relaunching the brand in its original home of New York City. More information on future locations will be announced in the coming weeks. And for a store that's departed the U.S. for good, This Iconic Store Is Closing All Its U.S. Locations.
Many department stores have had to close their doors over the past year.
Century 21 isn't the only department store the pandemic claimed in the past year. Neiman Marcus filed for bankruptcy in early May and announced they would be shuttering half of their stores. Lord & Taylor announced they would be going out of business after filing for bankruptcy on Aug. 27.
Of course, it's not just the pandemic that has stores facing hardships: In Feb. 2020, pre-COVID, Macy's announced plans to close 125 of its stores—approximately 20 percent of the chain's total portfolio—over the next few years. And for more closures you might have missed, This Popular Clothing Store Is Closing at Least 200 Locations.
