Major mall owner files for bankruptcy protection

Updated: Jun. 14, 2021 at 10:12 PM EDT
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ASHLAND, Ky. (WSAZ) - A major mall owner has filed for bankruptcy protection.

Washington Prime Group owns more than 100 locations across the United States, including the Ashland Town Center.

The Ohio-based company filed for Chapter 11 on Sunday so it can restructure and pay down $1 billion in debt.

Washington Prime Group blames the pandemic for its financial woes. The company was able to secure $100 million in new funding to support day-to-day operations.

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