Two big US mall owners file for bankruptcy
- Posted by: vitu
- Categories: Business, World
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.