Bankrupt Century 21, Citing $175 Million Insurance Nonpayment, Will Cease Operations
Retail TouchPoints
SEPTEMBER 10, 2020
11, 2001 terrorist attacks, Co-CEO Raymond Gindi said in a statement that the family-held company had “no viable alternative” to bankruptcy after insurers declined to pay approximately $175 million for losses stemming from losses due to COVID-19 business interruptions. Gindi avoided heavy debt and headlong growth.
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