INSURANCE COVERAGE INFORMATION
Legendary NY chain to shutter– takes legal action against insurance firms
A prominent New york city discount rate style chain is the most up to date company suing its insurance firm for rejected company disturbance insurance claims– yet not prior to the shop chain itself declared personal bankruptcy.
Shop chain Century 21 revealed in a launch that it would certainly fold its 13 shops throughout New york city, New Jacket, Pennsylvania, as well as Florida after virtually 60 years of company; the choice to shut complies with nonpayment from Century 21’s insurance firms. According to the shop chain, its insurance firms stopped working to pay regarding $175 million in spite of the “policies put in place to protect against losses stemming from business interruption, such as that experienced as a direct result of the COVID-19 pandemic.”