Operator of Park Plaza Mall files for bankruptcy

Local News

LITTLE ROCK, Ark.- CBL, the operator of Park Plaza Mall, and one other mall operator filed for bankruptcy protection Monday.

CBL and Pennsylvania Real Estate Investment Trust told the Associated Press their malls will remain open as they go through the bankruptcy process.

Both were hurt by the coronavirus pandemic that has forced their tenants to permanently close stores or not pay rent.

Even before the virus, malls have struggled to attract shoppers who are increasingly shopping online or elsewhere. But the pandemic has forced malls to temporarily close for months.

Based in Chattanooga, Tennessee, CBL operates 107 malls across the U.S., including Park Plaza Mall.

Philadelphia-based PREIT has more than 20 properties.

The Associated Press contributed to this report.


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