An Iconic New York City Department Store That's Famous for Designer Discounts Is Reopening in May Century 21 is reopening in Manhattan's Financial District later this month.
By Entrepreneur Staff •
TikTok loves a good thrift haul, but New Yorkers have long known the euphoric feeling of snagging a designer deal off-the-rack.
Century 21 Department Store, once downtown Manhattan's designer discount Mecca, is reopening its flagship at 22 Cortland Ave. across from the World Trade Center on May 16. The news was first reported by Crains New York.
After being in business for 60 years, Century 21 filed for bankruptcy in 2020, even though the company made $747 million in 2019, per Gothamist. Court filings indicate that pandemic-related diminished foot traffic in lower Manhattan and the e-commerce business, in general, hurt the company. Century 21 closed all 13 stores in Florida, New Jersey, and Pennsylvania during the restructuring.
"Since 1961, when Al and Sonny Gindi opened what was then a small store in Downtown Manhattan, we have been proud to provide shoppers with unmatched access to designer brands at amazing prices," Century 21 co-CEO IG Gindi said at the time of the closing. "While we wish that Century 21 could continue to be a must-see shopping destination for so many, we are proud of the pioneering role it has played in off-price retail and the iconic brand it has become."
Reports say the store will be half the size of the original.
It's official: Century 21's flagship store is reopening on May 16th. Downtown at 22 Cortlandt St.
— Mark D. Levine (@MarkLevineNYC) May 1, 2023
Great to see a NYC icon coming back to life.https://t.co/M58pwLl5lk pic.twitter.com/B5wiLnZxHJ
