Washington Key owns far more than 100 places throughout the United States. In addition to the Shopping mall at Fairfield Commons and Dayton Mall, the firm owns seven other Ohio homes: Great Lakes Shopping mall in Mentor Indian Mound Mall in Heath, Lima Mall in Lima, New Towne Shopping mall in New Philadelphia, Polaris Manner Position in Columbus and Southern Park Mall in Youngstown
“It’s company as common…,” a WPG spokesperson explained in an email to this information outlet Monday. “We see this new starting as a time to produce even extra power, dynamism and innovation for our visitors, suppliers and community associates. We search ahead to continuing to deliver folks alongside one another in techniques only bodily areas can — to share encounters, interact with items and providers and most importantly expend time alongside one another.”
WPG submitted for Chapter 11 bankruptcy protection in June, stating it experienced a restructuring support arrangement with creditors that have about 73% of its exceptional secured company personal debt and 67% of its unsecured notes — and importantly, the organization also had secured $100 million in a debtor-in-possession financial loan to fund daily functions through the Chapter 11 course of action.
A victim not only of the pandemic but of an progressively weakened placement for retail brick-and-mortar nationwide, Washington Prime has seen mall anchors and frequent-sizing tenants sliding into individual bankruptcy and shuttering their suppliers. Elder-Beerman and Sears in 2018 closed areas at both of those Dayton Mall and The Shopping mall at Fairfield Commons.
Glimcher Realty Rely on — which at one time owned and operated both of those malls — was acquired out by Washington Key Group in 2014. In September, WPG voluntarily delisted its shares from the New York Inventory Exchange.