Westgate Mall and Asheville Mall owner go bankrupt

Westgate Mall and Asheville Mall owner go bankrupt

Two mall operators filed for bankruptcy protection Monday. Both were injured by a corona virus infection, forcing their residents to permanently close stores or pay rent. CBL and the Pennsylvania Real Estate Investment Trust said their malls would remain open when they go into bankruptcy proceedings. Sattanoka, Tennessee, CBL operates 107 malls across the United States, including Westgate Mall in Spartanburg and Asheville Mall in Asheville. Philadelphia-based PREIT owns more than 20 properties, including the Cherry Hill Mall in New Jersey. Even before the virus, malls have been struggling to attract shoppers to shop online or elsewhere. But the epidemic has forced malls to close temporarily for months.

Two mall operators filed for bankruptcy protection Monday.

Both were injured by a corona virus infection, forcing their residents to permanently close stores or pay rent.

CBL and the Pennsylvania Real Estate Investment Trust said their malls would remain open when they go into bankruptcy proceedings.

Sattanoka, Tennessee, CBL operates 107 malls across the United States, including Westgate Mall in Spartanburg and Asheville Mall in Asheville.

Philadelphia-based PREIT owns more than 20 properties, including the Cherry Hill Mall in New Jersey.

Even before the virus, malls are struggling to attract shoppers who shop more and more online or elsewhere.

But the epidemic has forced malls to close temporarily for months.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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