Real Estate

Two Big Us Mall Owners File For Bankruptcy, Economy News & Top Stories - The Straits Times

by straitstimes.com posted 7months ago 37 views
November 03, 2020 1:35 PMThe pandemic has worsened an already dire situation for brick-and-mortar retailers. : NEW YORK (BLOOMBERG) - America's ailing malls suffered a pair of body blows over the weekend as two major landlords followed their ever-growing list of bankrupt tenants into Chapter 11 protection. Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc sought protection from creditors on Sunday (Nov 1), citing pandemic-induced pressures on their tenants and, in turn, themselves. Together the two Reits account for some 87 million square feet of real estate across the US, according to court papers.

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