LAKEWOOD, NY (WIVB) – Washington Prime Group, the company that runs the Chautauqua mall, files for Chapter 11 bankruptcy.
According to new information released this week, “Washington Prime Group has secured $ 100 million in new debtor-in-possession financing from willing creditors.”
This will allow day-to-day business operations to continue normally without interruption. No customer or store in the mall should expect changes.
“The financial restructuring of the company will allow WPG to resize its balance sheet and position the company for success in the future. During the financial restructuring, we will continue to work to maximize the value of our assets and operating infrastructure. The Company expects operations to continue in the normal course for the benefit of our customers, tenants, suppliers, stakeholders and colleagues. “
Lou Conforti, CEO and Director of Washington Prime Group
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Evan Anstey is a digital content producer who has been part of the News 4 team since 2015. See more of his work here and follow him on Twitter.