Mall Owner Goes Bankrupt Again as Retail Misery Refuses to End
Pennsylvania Real Estate Investment Trust turned to insolvency court for the second time in three years
A JC Penney shop in a mall.
Photographer: Martina Albertazzi/BloombergThis article is for subscribers only.
Welcome to The Brink. It’s Amelia Pollard and Erin Hudson in New York, where we followed the bankruptcy of mall owner PREIT. We also have news on Norwegian cruise operator Hurtigruten, Chinese developers and Brazilian chemical firm Unigel. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @ameliajpollard.
A shopping mall operator’s second bankruptcy in three years demonstrates just how much pain is lurking at the confluence of commercial real estate and brick-and-mortar retail.