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Owner of Southgate Mall files for Chapter 11 bankruptcy

Owner of Southgate Mall files for Chapter 11 bankruptcy MTN News file and last updated 2021-06-14 17:07:07-04 MISSOULA — The corporate owner of Missoula’s Southgate Mall has filed for Chapter 11 bankruptcy due to the COVID-19 pandemic. Washington Prime Group (WPG) the country’s largest mall operator announced the “voluntary” Chapter 11 bankruptcy filing on Sunday. A news release states a restructuring deal is in place “with creditors” and Washington Prime Group “has secured $100 million in new money debtor-in-possession financing” in order “to support day-to-day operations.” “Washington Prime Group’s guests, retailers, and business partners can expect business as usual at all of the Company’s retail town centers throughout the proceedings,” according to the news release.

Owner of Over 100 US Malls Files for Bankruptcy

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