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Report: Mall owner preparing for bankruptcy


Clay Terrace in Carmel is owned by Washington Prime Group. (photo courtesy of Clay Terrace)
by: Alex Brown, Inside INdiana Business
Posted:
Mar 8, 2021 / 11:35 AM EST
COLUMBUS, Ohio (Inside INdiana Business) The owner of several Indiana shopping centers, including Clay Terrace in Carmel and Muncie Mall, is reportedly preparing to file for bankruptcy. Bloomberg reports Ohio-based Washington Prime Group (NYSE: WPG) is looking to avoid a default after skipping an interest payment on its debt.
Bloomberg cites sources who say the real estate investment trust’s negotiations with lenders are faltering, though plans to file for Chapter 11 bankruptcy protection are not finalized. Washington Prime has stated in the past the pandemic could affect its ability to meet the requirements of its agreement with lenders. ....

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Reflecting on 2020: Washington Prime Group Town Centers Demonstrate Commitment to Tenants and Community


Posted on
8299
In a year that halted so much of everyday life, Washington Prime Group Inc. (NYSE: WPG) town centers across the country met 2020 with resilience, persistence and compassion for guests, communities and partners. The Company reimagined countless events and activations to continue to foster connections in a time of social distancing, launching numerous industry-leading initiatives designed to support small businesses and community organizations alike, all while abiding by strict local, state and federal mandates and restrictions.
Supporting Small Business
While supporting small businesses and the community is always a focus of Washington Prime Group, innovation had never been as important as it was in 2020 given the unprecedented business challenges brought on by the COVID-19 pandemic. ....

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