Retail

Discount retailer Century 21 files for bankruptcy, to close all stores

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A shopper walks past Century 21 department store signage displayed at City Point in the Brooklyn borough of New York, U.S., on Wednesday, July 19, 2017.

Mark Kauzlarich | Bloomberg | Getty Images

The discount department store chain Century 21 has filed for Chapter 11 bankruptcy protection and is closing all of its remaining 13 stores, it announced Thursday, joining the dozens of other retailers that have been pushed to the brink during the coronavirus pandemic. 

It said the decision stemmed from its insurance providers declining to pay roughly $175 million due in policies to protect Century 21 from the losses it has suffered throughout the coronavirus pandemic

“While insurance money…



Source cnbc.com

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