Published June 14. 2021 6:44PM
Jeremy Hill and Eliza Ronalds-Hannon, The Washington Post
Get the weekly rundown
Email*
Submit
Washington Prime Group Inc., a real estate investment trust that operates enclosed malls and strip centers across the U.S., filed for bankruptcy after the COVID-19 pandemic drove away shoppers.
The Chapter 11 filing in Houston lets Washington Prime stay in business while it restructures its debts in a deal that it reached with certain creditors, according to the bankruptcy petition. The company, with assets estimated at $4 billion and debt of almost $3.5 billion, secured a bankruptcy loan of up to $100 million to fund operations during court proceedings.