Owner Of Two Pittsburgh-Area Malls On Verge Of Bankruptcy: Report
PITTSBURGH, PA — The owner of two southwestern Pennsylvania malls is expected to soon declare Chapter 11 bankruptcy. Tennessee-based CBL & Associates operates Monroeville Mall and Westmoreland Mall.
The company is preparing a bankruptcy filing in part because many mall tenants have not been paying rent during the coronavirus outbreak, CNBC reported.
A bankruptcy filing would be more bad news for Monroeville Mall, which already has many empty storefronts and where a man was gunned down last week in a parking lot near the entrance to Party City.
The bankruptcy filing, which could occur next month, would come at a particularly bad time for Westmoreland Mall. A Live! casino is expected to open soon where the former Bon-Ton department store once was located.
CBL CEO Steven Lebowitz said there will be no operating changes at the company's mall.
"All CBL properties have reopened in accordance with the latest guidance from state and local governmental orders and will continue to operate as normal," Lebowitz said in a news release. "Visitors to our properties will not notice any change in our operations."
This article originally appeared on the Pittsburgh Patch
