The top stories today in retail include merchants in the U.K. are getting ready for another national lockdown as coronavirus cases continue to rise in that nation. While in the U.S., the mall companies, Philadelphia-based PREIT and Tennessee-based CBL & Associates both announced they would be filing for...
Another wheel has fallen off in the troubled mall sector, as two real estate trusts have filed for Chapter 11 bankruptcy. The filings, both announced Sunday night (Nov. 1), came from Philadelphia-based PREIT and Tennessee-based CBL & Associates. PREIT, with 19 properties, had scored points...
One of the mall sector’s more innovative real estate investment trusts has hit financial turmoil. The Pennsylvania Real Estate Investment Trust (PREIT) last week reached a debt restructuring deal with its lenders and sent up a red flag about its future viability if it doesn’t...
There’s arguably no more polarizing macroeconomic issue in the retail world than the fate of the American mall. On one side of the spectrum sits the “legion of doom,” or the analysts and consultants who believe the format and the department store tenants that anchor...
December 12, 2023
Pennsylvania Real Estate Investment Trust (PREIT), a prominent mall owner in the eastern United States, filed for bankruptcy for the second time in three years, highlighting the challenges faced by mall owners in the current retail landscape. The company is seeking to shed $880 million of debt that has built up due to high interest […]
