Century 21’s intellectual property assets are up for sale, Footwear News reported. The company is seeking a buyer for the bankrupt retailer’s IP, including its trademarks, the C21Stores.com domain name, customer data and social media assets. Century 21 brought in total gross revenues of more than $747 million in the 2019 fiscal year. Roughly $53 million of those sales were attributed to the company’s e-commerce platform. Offers to acquire the assets are due by Nov. 16, with an auction scheduled for Nov. 19. The sale is subject to the approval of a judge in the U.S. Bankruptcy Court for the Southern District of New York. According to the 60-year-old retailer, the decision to seek chapter 11 protection came after its insurance providers failed to pay roughly $175 million under certain policies that were put in place to protect against losses stemming from business interruptions, such as those experienced as a result of the coronavirus pandemic. According to its bankruptcy filing, Century 21 — with estimated assets and liabilities both in the range of $100 million to $500 million — owed PVH Corp., parent of Calvin Klein and Tommy Hilfiger $4.8 million, while G-III Leather Fashion is unpaid $4.2 million. (No. 1 on the list of creditors with the largest unsecured claims financial holding firm CIT Group, which is owed about $5.9 million.) Meanwhile, Adidas has a claim of $1.2 million; Michael Kors is due $1 million; Zara is unpaid $908,514; and Hanes Brands is owed $783,855. Other fashion names for which Century 21 has an outstanding tab include Puma at $455,572; Nike at $431,046; and Cole Haan for $423,162.
