Following Bankruptcy, Century 21 Announces Plans To Relaunch

Century 21 is officially reopening in New York City. The department store, beloved for selling high-end fashion at deeply discounted prices, declared bankruptcy back in September 2020 due to financial losses precipitated by the pandemic. Met with an outpouring of support from loyal shoppers, the Gindi family -- the original founders of the store -- bought back the intellectual property rights of the Century 21 brand, allowing them to revive the business.

Century 21 will re-open in New York City and, in an unprecedented move, open its first store in Busan, South Korea sometime during the summer. The company has also named a new president, Marc Benitez, a former executive at Authentic Brands Group and Coach. According to a press release, Century 21 will announce "further global expansion as well as the relaunch of the brand in New York and across the country" in the "coming weeks."

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