CBL & Associates Properties Inc., facing a Monday deadline, said in a Securities and Exchange Commission filing that it's extending discussions until Wednesday with lenders regarding some of its debt.
The Chattanooga-based operator of 108 properties nationally, including both Hamilton Place and Northgate malls, extended forbearance agreements related to two loans. Last week, the company also said it would continue talks related to a credit agreement until Wednesday.
"The company is continuing to engage in negotiations and discussions with the holders and lenders of the company's indebtedness. There can be no assurance, however, that the company will be able to negotiate acceptable terms or to reach any agreement with respect to its indebtedness," CBL said in the filing.
More than three weeks ago, the company first entered into a similar agreement over some of its debt after CBL said it chose to not make interest payments of $18.6 million and $11.8 million. The company is in talks with lenders after a sharp downturn caused by the temporary closing of malls and retail stores earlier this year amid the coronavirus outbreak.