The Columbus-based enterprise cited financial difficulties due to the COVID-19 pandemic for the Chapter 11 filing.
COLUMBUS, Ohio — Washington Primary Group, owner of Polaris Trend Spot and about 100 buying centers throughout the United States, submitted for bankruptcy Sunday.
The Columbus-centered corporation cited economical troubles thanks to the COVID-19 pandemic for the Chapter 11 submitting.
A spokesperson for the Washington Key said “the Chapter 11 route is the most powerful subsequent stage to resolve the Company’s excellent indebtedness as we arise from the pandemic.”
It will be “business as usual” at Polaris shopping mall through the system, in accordance to the spokesperson.
Attributes in Ohio owned by Washington Prime:
- Dayton Mall
- Good Lakes Mall in Mentor
- Indian Mound Mall in Heath
- Lima Mall
- Lima Heart
- New Towne Shopping mall in New Philadelphia
- Polaris Vogue Spot
- Southern Park Mall in Youngstown
- The Shopping mall at Fairfield Commons in Beavercreek
Washington Key Group’s assertion:
“The COVID-19 pandemic has produced considerable problems for numerous consumer-facing providers, including Washington Primary Team, the proprietor of Polaris Fashion Spot. The Firm has established that the Chapter 11 route is the most efficient next step to resolve the Company’s superb indebtedness as we emerge from the pandemic. All through the Chapter 11 course of action, it will be business as usual at Polaris Style Area, the place our tenants, sponsors and staff members will go on operating as regular, with a focus on furnishing pleasurable experiences for our guests.”
“Please note, specific subsidiaries, which include the Company’s joint ventures and the the greater part of the Company’s exclusive goal entities holding properties that protected house loan financial loans will not be debtors in the Chapter 11 cases. Polaris Manner Spot is a non-debtor and will not be impacted by the Company’s Chapter 11 financial restructuring.”