WHITEHALL TWP., Pa. – The Whitehall Township Board of Commissioners on Monday night signed off on a resolution to subdivide the Whitehall Mall property and surrounding shopping plaza.
The move was requested so that the Wells Fargo and Buffalo Wild Wings land parcels can be owned by separate entities, according to comments by Frank Clark, township engineer.
Whitemak Associates, a subsidiary of Washington Prime Group Inc., owns the mall and surrounding land.
In early March, it was reported that Washington Prime Group was potentially preparing to file for bankruptcy as time was running out to avert a default after it skipped a February 15 interest payment on its debt, according to Bloomberg.
The company was under forbearance with creditors until March 31, but that deadline has now been extended until April 14, in hopes that the company can restructure its debt.
Bloomberg previously reported that Guggenheim, the company’s investment bank, asked prospective lenders to indicate their interest in providing a potential $150 million debtor-in-possession loan.
In its fourth-quarter earnings report released on March 16, Washington Prime Group reported that its net loss attributable to common shareholders was $111.4 million, compared to a net income of $17.1 million, a year ago.