Century 21 Will Reopen Next Spring in Same Lower Manhattan Location

The beloved discount department store will return to its iconic location in the Financial District in spring 2023, the company announced Tuesday, Mar. 17.

Owned and operated by the Gindi family in New York City, Century 21 opened its doors 60 years ago. At its height, the retailer had 13 stores across the Northeast. In the aftermath of the pandemic, the chain declared bankruptcy and was subsequently forced to liquidate. In the bankruptcy proceedings, however, the Gindi family bought back the intellectual property behind the company.

The Gindis tapped retail and events operator Legends to help with their reopening. Legends will oversee logistics, store operations, point-of-sale and IT systems in the Cortlandt Street store.

“In our 60 year history we have only closed our doors twice, once after the devastation of 9/11 and then again during the COVID-19 pandemic,” said co-chief executive Raymond Gindi in a statement. “But like the true New Yorkers we are, we have persevered. We could not be more excited to bring Century 21 back home, delivering the same products and value to customers.”

Learn more:

The Off-Price War Heats Up

From stalwarts like T.J. Maxx and Nordstrom Rack to venture-backed newcomers and online luxury resellers, a multitude of discount retailers are all vying for a piece of the growing off-price market, which will thrive amid the lingering global recession.