Chattanooga-based shopping center owner CBL & Associates Properties Inc. says that it will continue discussions into next week with lenders regarding its debt.
The company, which operates 108 properties nationally including Hamilton Place and Northgate malls in Chattanooga, extended forbearance talks regarding a credit agreement for a week, a new Securities and Exchange Commission filing just before midnight Wednesday shows.
Also, CBL said in the filing it will extend talks until Monday with lenders related to two other forbearance agreements concerning its debt. Nearly a month ago, the company first entered into forbearance 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 downturn in revenue caused by the temporary closing of malls and retail stores earlier this year amid the coronavirus outbreak. Key tenants of the mall company, such as J.C. Penney and the owner of Ann Taylor and Catherines shops, have filed for bankruptcy restructuring during the pandemic.