Owner of Southgate Mall files for Chapter 11 bankruptcy
MTN News file
and last updated 2021-06-14 17:07:07-04
MISSOULA â The corporate owner of Missoulaâs Southgate Mall has filed for Chapter 11 bankruptcy due to the COVID-19 pandemic.
Washington Prime Group (WPG) the countryâs largest mall operator announced the âvoluntaryâ Chapter 11 bankruptcy filing on Sunday.
A news release states a restructuring deal is in place âwith creditorsâ and Washington Prime Group âhas secured $100 million in new money debtor-in-possession financingâ in order âto support day-to-day operations.â
âWashington Prime Groupâs guests, retailers, and business partners can expect business as usual at all of the Companyâs retail town centers throughout the proceedings,â according to the news release.
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