Tuesday, January 31, 2023

Owner of Fashion Square Mall files for bankruptcy

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Owner of Fashion Square Mall files for bankruptcy

ALBEMARLE COUNTY VA. (WVIR – The owner, Fashion Square Mall, has filed for bankruptcy.

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Washington Prime Group filed Chapter 11 on Sunday, 13 June to pay $1 billion in debt restructuring. The group blames the coronavirus epidemic for its financial woes.

The public relations manager for Belk says despite the news, it’s business as usual for the the department store inside the mall.

“This does not impact our store at that location,”Jessica Rohlik, Belk Spokesperson, said.

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Washington Prime Group reports that it was able acquire $100 million in new funding for day-today operations.

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