Southern Park Mall owner continues to elude bankruptcy

COLUMBUS, Ohio - Operators of the Southern Park Mall continue to avoid bankruptcy as an investor sues them in Federal Court.
Washington Prime Group announced on Wednesday that lenders have once again extended for another week, a forbearance agreement on loans that would have expired that day. It is another in a series of bi-weekly and weekly extensions that have been issued since mid-March.
The latest extension, which expires on Wednesday, June 2, comes less than a week after Oregon investor Randy Slipher filed a class-action lawsuit in U.S. District Court alleging that Washington Prime and two executives failed to disclose negative information about the company, allegedly violating federal regulations.
As of Thursday, Washington Prime had not responded to the lawsuit.
Washington Prime has stated in a regulatory filing that there is “substantial doubt as to the Company’s ability to continue as a going concern.” The company confirmed that it was involved in discussions for a financial restructuring.