CHARLESTON, W.Va. — Charleston Mayor Danny Jones says he’s “concerned, but not worried” about the Charleston Town Center Mall’s decision to default on a multi million dollar loan Friday.


Charleston Mayor Danny Jones

The mall’s operators do not have the money to pay its loan from Wells Fargo, Jones said. The balance on the loan is about $80 million.

“It could be a strategic move. I don’t think Wells Fargo wants to own our mall,” Jones said on Friday’s “580 Live” heard on MetroNews affiliate 580-WCHS.

Jones first confirmed the default on Facebook.

He said he hopes Wells Fargo restructures the mall’s debt.

“The next move belongs to Wells Fargo. What I hope happens — they will try to negotiate and restructure their debt as what happens so often in these kind of business arrangements,” he said.

The mall will continue to operate on a normal schedule, according to Town Center Director of Marketing Lisa McCracken.

Jones is encouraging people to still visit the mall.

“I haven’t reached the point of worry about anything — concerned obviously,” he said. “I think everything will be okay and I hope people continue to shop at the mall, eat at the restaurants and shop at the stores.”

“I’m hopeful we can pull ourselves out of this.”

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