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Westshore Plaza owner files for bankruptcy

June 14, 2021 - Washington Prime Group has filed for Chapter 11 bankruptcy. Washington Prime (NYSE: WPG) is a real estate investment trust with a national portfolio that includes Westshore Plaza in Tampa. The Covid-19 pandemic created significant challenges for many companies, including Washington Prime Group, making a Chapter 11 filing necessary to reduce the company’s outstanding indebtedness, fhe Columbus, Ohio-based company said in a news release. Washington Prime said it has executed a restructuring support agreement with creditors that hold most of its debt. The bankruptcy filing will allow the company to substantially deleverage its balance sheet and strengthen its business and operations going forward, the news release said. Washington Prime Group’s guests, retailers and business partners can expect business as usual at all of the company’s retail town centers throughout the proceeding, the company said.

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