Off-price retailer Century 21 Stores has filed for bankruptcy to wind down its remaining stores, blaming its financial woes on insurers that have refused to cover COVID-19-related losses.
The family-owned, New York-based department store, represented by Proskauer Rose, sought Chapter 11 protection on Thursday in the U.S. Bankruptcy Court for the Southern District of New York. The company plans to close all 13 of its remaining locations, which are located in New York, New Jersey, Pennsylvania, and Florida.
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