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Southern Park Mall owner files for bankruptcy
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Investor files class-action against Southern Park Mall operator
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The owner of the Chautauqua Mall may be forced to file for Chapter 11 bankruptcy protection, according to Bloomberg News.
Last month, Washington Prime missed a $23 million interest payment, which began a 30-day grace period for the company to negotiate its debt with lenders. Bloomberg News reporters spoke with someone familiar with the conversations who said those talks “have since been faltering.” Washington Prime Group officials did not respond to Bloomberg News’ requests for comment. Bankruptcy could be avoided if Washington Prime makes progress with its lenders or if its grace period is extended. The news sent Washington Prime stock tumbling again Thursday to about 80% of its value from a year ago.