Century 21 Department Store To Have Post-Ch. 11 'Rebirth'

Law360 (April 26, 2021, 3:40 PM EDT) -- Attorneys for shuttered retailer Century 21 Department Stores told a New York bankruptcy judge Monday that the chain is slated to reopen in Manhattan after its former owners purchased the brand's intellectual property in the Chapter 11 case.

During a virtual hearing on confirmation of Century 21's plan of liquidation, debtor attorney Peter Young of Proskauer Rose LLP said the company has shut down all of its stores and liquidated most of its assets already, but that the Gindi family — descendants of the store's founders — had repurchased the Century 21 name through a bankruptcy sale.

"With the Gindi family's...

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