Washington Prime cancels auction for lack of bids

Law360 (Aug 6, 2021, 6:40 p.m. EDT) – Mall owner Washington Prime Group told a Texas bankruptcy court that his attempt to market its assets had not prompted any qualified bids and would seek rather the approval of a capital of 721 million dollars. – Redeem the Chapter 11 plan by the end of the month.

In a notice filed Thursday, Washington Prime said it canceled an auction that was scheduled for Friday after receiving no qualified bids before Wednesday’s submission deadline.

Washington Prime and dozens of affiliates filed for Chapter 11 protection on June 13, listing $ 3.9 billion in debt and blaming the effects of the COVID-19 pandemic on the retail industry … .

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