Mall owner Washington Prime Group filed for Chapter 11 bankruptcy protection on Sunday after the Covid-19 pandemic forced temporary closures.
Mall owner Washington Prime Group filed for Chapter 11 bankruptcy protection on Sunday after the Covid-19 pandemic forced it to temporarily close some of its roughly 100 shopping centers across the United States and businesses were unable to pay its rent.
The company's estimated assets ranged from $1 billion to $10 billion as did its estimated liabilities, according to a filing made in the United States Bankruptcy Court for the Southern District of Texas. Fallout from the pandemic last year forced Washington Prime to close some properties for a time and relax collection of rent from its tenants, squeezing the mall owner's finances.
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