The pandemic has taken its toll on small businesses and large chain stores alike. As companies continue to take a hit from the wounded economy, we've seen some of our favorite spots disappear. The most recent closing announcement comes from Century 21. The beloved, almost 60-year-old department store filed for bankruptcy on Sept. 10, and announced they would be having going-out-of business sales at their 13 locations, according to a statement.
Century 21 will be closing all of its locations in New York, New Jersey, Pennsylvania, and Florida. The company, like many others, has survived countless recessions and hardships, but the COVID pandemic will be the final nail in their coffin.
"While insurance money helped us to rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business," said Century 21 co-CEO Raymond Gindi.
The store got a significant amount of publicity this past year as it was prominently featured in the current season of Bravo's The Real Housewives of New York City. One of the show's stars, Sonja Morgan, collaborated with Century 21 to launch a fashion line in Dec. 2019. Morgan hosted an extravagant party at Century 21's pop-up location in Herald Square. However, the star power wasn't enough to save the store once COVID hit.
All 13 locations are currently open to customers and taking COVID precautions. The going-out-of-business sale features deep discounts on items both in-store and online. According to the statement, shoppers are encouraged to check out the sale as soon as possible, while there is the most merchandise to choose from.
Century 21 follows in the tragic footsteps of other beloved businesses that were put to rest this year. Here are five more stores that had to close their doors. And for more department stores that vanished, revisit these 17 Once-Beloved Department Stores That Are Now Defunct.
1 Lord & Taylor
On Aug. 27, Lord & Taylor, one of the most popular department stores, released a statement announcing they were filing for Chapter 11 bankruptcy and going out of business. And if you're a big-time shopper, discover The Incredible Walmart Price Tag Secret You'll Kick Yourself for Not Knowing.
2 Pier 1 Imports
Your favorite spot for curated home goods released a statement that they filed for bankruptcy on May 19. Following the announcement, the chain began the process of shuttering all of its stores. And if you're looking for a way to make some quick cash, learn The Secret Trick to Get Money From Amazon You Need to Know.
3 Neiman Marcus
Neiman Marcus led the pack of store closures. The department store was the first to file for Chapter 11 bankruptcy back in early May, according to NPR. Business Insider reports the store has only closed 22 stores, leaving some locations still standing.
4 Forever 21
Forever 21 found itself in financial trouble well before COVID hit. The fashion chain filed for bankruptcy in Sept. 2019, and has subsequently shut down hundreds of stores, according to Business Insider. And for smart-shopping advice, This Insider Secret Will Save You Money Every Time You Shop at Costco.
5 Nordstrom
Earlier this year, the classic department store announced 19 of their 116 locations would be closing, but they will be keeping all of their Nordstrom Rack locations in operation, according to Business Insider. And for up-to-date news delivered straight to your inbox, sign up for our daily newsletter.
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