US Mall Owner Washington Prime Group Files for Bankruptcy
Washington Prime Group Inc. (NYSE:WPG), owner of 102 malls in the U.S., filed for Chapter 11 bankruptcy protection on late Sunday in Texas amidst the COVID-19 brick-and-mortar sales plunge. Q1 2021 hedge fund letters, conferences and more Washington Prime Group Files For BankruptcyThe company seeks to “implement a comprehensive and consensual financial restructuring,” securing $100 million in new money debtor-in-possession financing to keep their operations running, with a focus on the Midwest, East Coast and Florida markets. In late March, the company assets were valued at $4 billion with a r...