Retail

Mall owner Washington Prime reportedly prepping to file for bankruptcy

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Louis Conforti, CEO of the Washington Prime Group, on CNBC’s Mad Money.

Source: CNBC

U.S. shopping mall owner Washington Prime Group is preparing to potentially file for Chapter 11 bankruptcy protection, with time running thin before the company defaults after it skipped an interest payment on its debt, Bloomberg reported Thursday.

Last month, Washington Prime missed a $23 million interest payment and said it would be entering a 30-day grace period to continue negotiations with lenders.

But those talks have since been faltering, Bloomberg reported, citing conversations with people familiar with the matter. Still, the plan to pursue bankruptcy could change, Bloomberg said, if Washington Prime…



Source cnbc.com

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