Mall Owners Prepare for Bankruptcy

Mall Owners Prepare for Bankruptcy

In this intriguing news feature, “Report: Mall owners preparing for Chapter 11 bankruptcy,” by Carson Gerber of the Kokomo Tribune, the author discusses how  the Washington Prime Group is preparing to potentially file after failing an interest payment on its debt. The author explains that “the COVID-19 pandemic coils impact its ability to pay its lenders, but said in November bankruptcy wasn’t an option.” Although this does bring into question the overall future of one of the largest shopping areas in Kokomo, it does not guarantee a full liquidation of their assets. According to the author it could mean a “reorganization or restructuring of debt.” Gerber finishes the article by explaining the major investment the mall made in 2018 by demolishing the former Sears store. I chose this article because the mall is known for being the most popular shopping places around here. This means that there may be some major changes with the mall.

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