Century 21 Files For Bankruptcy, Closing Hudson Valley Store

HUDSON VALLEY, NY — Century 21 department stores announced last week that it was filing for bankruptcy and going out of business, which will lead to the closure of its locations at the Cross County Shopping Center in Yonkers

The retailer was hit hard by the coronavirus pandemic and the associated shutdowns.

In a press release, Century 21 co-CEO Raymond Gindi said that the closure of the chain was forced by its insurance company, which wouldn't pay it for losses stemming from the coronavirus. Gindi said the insurance company was supposed to pay to protect the business from "unforeseen circumstances," like those caused by the coronavirus.

"While retailers across the board have suffered greatly due to COVID-19, and Century 21 is no exception, 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," Gindi said.

The company's stores are still open and are holding going out of business sales right now, and on the store's website. The stores will close permanently on Nov. 22.