COLUMBUS, Ohio (WDTN) – Washington Prime Group, owner of Dayton Mall and The Mall at Fairfield Commons, has filed for bankruptcy.
The company filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code and said it was “necessary to reduce the Company’s outstanding indebtedness.” Washington Prime Group owns a total of nine malls in Ohio including Polaris Fashion Place in Columbus, according to their website.
“The COVID-19 pandemic has created significant challenges for many companies, including Washington Prime Group, making a Chapter 11 filing necessary to reduce the Company’s outstanding indebtedness,” said the company in a release.
Lou Conforti, CEO and Director of Washington Prime Group, said, “The Company’s financial restructuring will enable WPG to right-size its balance sheet and position the Company for success going forward. During the financial restructuring, we will continue to work toward maximizing the value of our assets and our operating infrastructure.”
Washington Prime Group said operations will continue uninterrupted and that vendors and service providers are not expected to be harmed by the filing.
Resources for the Company’s stakeholders, and other information on the Company’s financial restructuring, can be accessed by visiting the restructuring website at http://cases.primeclerk.com/washingtonprime. Court filings and other documents related to the Chapter 11 process are available at http://cases.primeclerk.com/washingtonprime, by calling the Company’s claims agent, Prime Clerk, at (877) 329-1913 (toll free) or (347) 919-5772 (international) or by emailing firstname.lastname@example.org.