Owner of Oak Court Mall in Memphis files for bankruptcy

Updated: Jun. 14, 2021 at 6:02 PM CDT
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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.

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