Owners of Mayfaire Town Center plan to file for bankruptcy

WILMINGTON, NC (WWAY/AP) — The owner and operator of multiple North Carolina shopping centers has announced plans to file for Chapter 11 bankruptcy protection on Oct. 1 with a restructuring deal already in place with most of its unsecured lenders.

News outlets report the announcement by CBL & Properties of the proposed bankruptcy plans comes the day after it reported an $81.4 million loss for the second quarter, compared with a $35 million loss a year ago.

CBL also owns Mayfaire Town Center in Wilmington.

CBL also owns and operates Hanes Mall in Winston-Salem and Friendly Center in Greensboro. Most of its properties closed from mid-March to late May because of the COVID-19 pandemic.

Categories: Local, New Hanover, News

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