Capital City Mall owner PREIT on bankruptcy speculation: Mall ‘an integral part of the local community’
HARRISBURG, Pa. (WHTM) — The owner of Capital City Mall isn’t “interested in speculating about future events,” following a report the company is preparing to file for bankruptcy but is “committed to advancing [the mall’s] legacy.”
Bloomberg — citing “people with knowledge of the matter” — reported Pennsylvania Real Estate Investment Trust, or PREIT, might soon seek Chapter 11 bankruptcy protection.
The company previously filed entered Chapter 11 in November 2020, as online shopping boomed and indoor malls reeled during the COVID-19 pandemic.
Capital City Mall has been among the more resilient indoor malls.
“We aren’t interested in speculating on future events, but we can state that our discussions with our lenders are in furtherance of a strong and sustainable PREIT,” a PREIT spokesperson told abc27 News. “Capital City Mall is an integral part of the local community, not only as a significant employer but also as a committed investor in the development of the community, and PREIT, along with our lenders, is committed to advancing this legacy.”
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