Discount store Century 21 is set to reopen its Financial District flagship store at 22 Cortlandt St. The four-floor store will offer designer apparel, footwear, accessories, and fragrances.  

Century 21 was a renowned fashion destination in New York known for providing luxury items at discounted prices. The store made $747 million in revenue in 2019. Plans to open new locations, including one at the American Dream Mall, were halted due to insurers’ refusal to pay $175 million for losses resulting from COVID-19 business interruptions. The store faced bankruptcy and closed its 13 East Coast stores in 2020. 

The Gindi family, along with a private investor, acquired the brand’s intellectual property for $9 million. The bankruptcy proceedings resulted in legal disputes with Ben Ashkenazy, the CEO and retail real estate titan behind Ashkenazy Acquisition Corp. Gindis have investments in several of Ashkenazy’s properties.