Two big US mall owners file for bankruptcy

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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