BOARDMAN TWP., Ohio - The company that operates Boardman’s Southern Park Mall has another two weeks to avoid defaulting on loans while it continues negotiations to avoid possible bankruptcy.

Washington Prime Group has announced a deal to extend a forbearance agreement with most of its lenders until April 28. The agreement had originally been scheduled to expire on Wednesday, April 14.

A similar two-week extension of the agreement was announced late last month.

In its latest financial report issued last month, the management of Washington Prime Group stated that there is “substantial doubt about the Company’s ability to continue as a going concern”.

Reporting a net loss of $111 million in the final quarter of 2020, the company said it is in negotiations to restructure.

The extension agreement forestalls debt with 67% of Washington Prime’s lenders.

The mall owner said earlier that it may seek bankruptcy protection if that if a longer-term agreement on debt couldn’t be reached.

Washington Prime said that filing Chapter 11 would subject the company “to the risks and uncertainties associated with bankruptcy and may harm the Company’s business and place its equity holders at significant risk of losing all of their investment in the Company; the Company’s limited liquidity could materially and adversely affect its business operations”