Monroeville and Westmoreland malls, file for bankruptcyTwo mall operators filed for bankruptcy protection Monday, hurt by the coronavirus pandemic that has forced their tenants to permanently close stores or not pay rent.
Crushed by the Coronavirus, PREIT and Other Mall Operator File for Bankruptcy
Pennsylvania Real Estate Investment Trust says their malls will remain open as they go through the bankruptcy process
Both companies, CBL and Pennsylvania Real Estate Investment Trust, said their malls will remain open as they go through the bankruptcy process.
Even before the virus, malls have struggled to attract shoppers who are increasingly shopping online or elsewhere. But the pandemic forced many of them to temporarily close for months. Mall tenants, which operators rely on for rent payments, are also stressed. Some are going bankrupt and closing stores, such as department store chain J.C. Penney.
