Title: Discount retailer Century 21 files for bankruptcy, to close all stores
Headings: Discount retailer Century 21 files for Chapter 11 bankruptcy and is closing all of its 13 stores
Discount retailer Century 21 files for Chapter 11 bankruptcy and is closing all of its 13 stores
Key Points
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.

Content: Century 21, known for its great deals on clothes and accessories, opened its first location in 1961 in downtown Manhattan in New York, and also has locations in New Jersey, Pennsylvania and Florida. It said going-out-of-business sales have commenced at all of its shops and online. Proskauer Rose is serving as Century 21′s legal counsel. BRG is its financial advisor, with Brian Cashman leading as Century 21′s chief restructuring officer. Hilco Merchant Resources is facilitating the going-out-of-business sales. Lockdowns and stay-at-home orders aimed at halting the spread of the Covid-19 virus forced nonessential retailers like Century 21 to temporarily close their doors. That heightened the pain the industry was already feeling from shifting consumer habits. Among the companies that have filed for bankruptcy during the pandemic are J.C. Penney, Loft owner Ascena Retail Group, True Religion and Lucky Brand. VIDEO
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CNBC Retail Reporter: America’s department stores could be in their ‘last stages’
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