By 
CBL Properties announced today that it has entered into a restructuring support agreement with a group representing a majority of its bondholders. As part of the restructuring, CBL will enter a voluntary Chapter 11 bankruptcy protection on Oct. 1.
Meanwhile, it will be ” business as usual” at CBL’s properties, with COVID-19 safety guidelines in place. In the St. Louis region, CBL owns West County Center, South County Center and Mid-Rivers Mall, and St. Clair Square on the Illinois side.
“CBL has a significant cash position, which along with its net cash flow, provides sufficient liquidity to run our business,” said Chief Executive Officer Stephen Lebovitz. “For over 40 years, we have provided customers with the best in retail, dining and entertainment. We look forward to serving you for another 40 years. Thank you for your continued support of CBL.”
CBL properties are centers of retail commerce that serve as large employment bases and generate significant taxes for communities.
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