Powered by

Report: Washington Prime seeking bankruptcy financing, stock takes another hit

Mar 22, 2021 - Columbus Business First (Ohio)

Columbus malls giant Washington Prime Group Inc. is setting the stage for bankruptcy, according to a published report.

Shares (NYSE:WPG) decreased by 10% to $2.78 at market close Monday after Bloomberg reported the company's financial advisor, Guggenheim Securities, has approached investors to suss out interest in providing a $150 million debtor-in-possession loan as a part of a Chapter 11 bankruptcy.

The news outlet cited unnamed sources in confidential talks with terms that are sub...