Listen Now: Morning News

Owner of malls in Morgantown & Vienna file for Chapter 11

MORGANTOWN – The owners of the Morgantown Mall are filing for Chapter 11 Bankruptcy protection, citing struggles due to the pandemic.

Washington Prime Group owns more than 100 locations around the country, including the Morgantown Mall and the Grand Central Mall in Vienna. In the filing, made late Sunday, company officials explain the shutdowns necessitated by the pandemic “created significant challenges” and the move to file for bankruptcy is a necessary action.

“The company’s financial restructuring will enable Washington Prime to right size its balance sheet and position the company for success going forward,” said CEO Lou Conforti. “During the financial restructuring, we will continue to work toward maximizing the value of our assets and our operating infrastructure.”

In the meantime, company officials insist that day-to-day operations at Washington Prime’s malls will remain unchanged thanks to $100 million in new funding secured by the company.





More News

News
MetroNews This Morning 10-21-21
Get up to date on West Virginia news.
October 21, 2021 - 6:24 am
News
US Senate fails to advance voting bill following GOP block
The U.S. Senate voted 49-51 on moving forward with the Freedom to Vote Act.
October 20, 2021 - 9:25 pm
News
WVU appoints first female University Police chief
Sherry St. Clair, who has 27 years of experience in public safety, joined the University Police force in 1994.
October 20, 2021 - 7:24 pm
News
Navy engineer, wife plead not guilty to selling nuclear secrets; trial date set
Jonathan and Diana Toebbe will go on trial Dec. 14.
October 20, 2021 - 6:58 pm