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Muncie Mall's owner WPG preparing for possible bankruptcy filing


Washington Prime Group owns about 100 malls throughout the U.S., including the Muncie Mall and Clay Terrace in Carmel.
The report indicated that time was running out for officials with the company to avert a default on loans after it skipped an interest payment.
None of this should come as a surprise, as the company said it would likely try to rid itself of assets like Muncie s struggling mall by defaulting on loans over time. 
Mark E. Yale, the company s CFO, said WPG would transition those non-core assets back to the lender, meaning default on the mortgage loans secured by those shopping centers. ....

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