NYC discount retailers bank on bankruptcies

While the rough economy has taken its toll on many New York City retailers, discount chains like Century 21, T.J. Maxx and Filene’s Basement are having a field day in the post recession-era, according to Crain’s. Jason Pruger, a senior managing director at Newmark Knight Frank, said that this phenomenon can be attributed to shoppers trying to save a buck — and the subsequent changing retail landscape. “Discounters are one of the few guys left standing who are taking space,” Pruger said. “As concepts like Blockbuster and Barnes & Noble become obsolete, this new type of retailer is filling that void.” [Crain’s]