Mall operators in the U.S. have been strapped for cash amid the pandemic as people have stayed indoors and resorted to online shopping. Retailers, including J.C. Penney Co Inc, one of CBL’s biggest renter, already grappling with customers’ abandonment of traditional stores for online shopping have also resorted to bankruptcy filings. CBL’s filing follows that of Pennsylvania Real Estate Investment Trust earlier on Sunday, which filed a chapter 11 petition to execute a prepackaged financial restructuring plan. …read more
Source:: Yahoo Finance
