Owner of Fashion Square Mall files for bankruptcy
ALBEMARLE COUNTY, Va. (WVIR) - The owner of the Fashion Square Mall has filed for bankruptcy.
Washington Prime Group filed for Chapter 11 on Sunday, June 13, so it can restructure and pay down $1 billion in debt. The group blames the coronavirus pandemic for its financial woes.
The public relations manager for Belk says despite the news, it’s business as usual for the the department store inside the mall.
“This does not impact our store at that location,” Belk Spokesperson Jessica Rohlik said.
The Washington Prime Group says it was able to secure $100 million in new funding to support day-to-day operations.
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