Century 21 Makes a Comeback at Longtime Manhattan Flagship

The department store chain’s founding family has salvaged the brand name out of bankruptcy

Century 21, a mainstay of New York City’s retail scene before shutting down in bankruptcy in 2020, is making a comeback at its longtime lower Manhattan flagship location with backing from its founding family.

The department store brand, known for bargains on high-end designer apparel and accessories, is planning to relaunch at its former location across from the World Trade Center next year.

Founded in 1961 by Al Gindi and backed by his family for decades, the department store became a symbol of New York City’s revival after the terrorist attacks of Sept. 11, 2001, reopening to crowds of shoppers after shutting down for six months.

The Gindi family bought the branding behind the department store out of bankruptcy for $9 million, court papers show, laying the groundwork for an eventual revival.

“The reopened location will span the four main floors of the original downtown space and will offer men’s, women’s and children’s designer apparel, footwear, outerwear, handbags, accessories and fragrances,” Century 21 said Wednesday.

For many shoppers, Century 21 carved out a niche offering higher-end brands at lower-end prices, appealing to those who couldn’t afford more upscale department stores.

At the flagship Manhattan store, shoppers could be found rummaging through racks stuffed with last season’s designer accessories, suits and more.

But the business couldn’t outlast the coronavirus lockdowns, filing for chapter 11 protection in 2020 and shutting down all 13 of its store locations, located in New York, New Jersey, Pennsylvania and Florida.

Century 21 blamed its insurers for the bankruptcy, saying they refused to cover losses suffered when stay-athome orders and other restrictions closed retailers across the country.

The business alleged in its chapter 11 case that insurance providers failed to pay roughly $175 million under policies protecting against business disruptions, which the insurers denied, court papers show.

In the bankruptcy case, the Gindi family paid another $59 million to buy the rights to those policies, which lawyers are still fighting over, according to court records.