The Covid-accelerated retail apocalypse has claimed two more victims. Mall owners CBL Properties & Associates and Pennsylvania REIT (PREIT) filed for Chapter 11 bankruptcy on Sunday, adding to the growing list of retail and mall owners that have faced a financial reckoning this year. Chattanooga-based CBL Properties first announced plans to file for bankruptcy in August to restructure its debt. By filing for bankruptcy, the company said, it can reduce its debt obligations by $1.5
source https://therealdeal.com/2020/11/02/mall-owners-cbl-properties-and-preit-file-for-bankruptcy/
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