Owner of Oak Court Mall in Memphis files for bankruptcy
MEMPHIS, Tenn. (WMC) - A major mall owner has filed for chapter 11 bankruptcy protection.
Washington Prime Group owns more than 100 locations across the country, including Oak Court Mall in East Memphis.
The Ohio-based company filed for chapter 11 Sunday so it can restructure and pay down $1 billion in debt. Washington Prime Group blames the pandemic for its financial woes.
The company has been able to secure $100 million in new funding to support day-to-day operations.
Copyright 2021 WMC. All rights reserved.