PREIT filed Sunday for Chapter 11 protection under a prepackaged financial restructuring plan. The Philadelphia-based company is the first retail REIT to file for bankruptcy since GGP in 2009. Last month, PREIT entered into a restructuring support agreement with its bank lenders. The banks have committed to provide an additional $150 million to recapitalize the business and extend the company’s…
https://www.connect.media/mall-operator-preit-files-for-chapter-11-protection/
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